QUESTION THREE (11 marks) Carver Test Systems manufactures automated testing equipment. The company uses a job-order costing system and applies overhead on the basis of machine hours (MH). At the beginning of the year, estimated manufacturing overhead was $1,960,000, and the estimated machine hours was 98,000. January data regarding several jobs at Carver are presented below.

By the end of January, all jobs but SL-205 were completed. All completed jobs had been delivered to customers except for RX-115. Required: a. Calculate the predetermined overhead rate that Carver was using. (2 marks)

a)What was t b. Calculate the total balance in Finished Goods inventory at the end of January. Show all job costs for only the job(s) remaining in this account at the end of January, in the chart started below. Complete the chart headings and costs for job(s) in ending Finished Goods Inventory.(4 marks) Job # Beginning Balance DM Cost DL Cost 3 3. Calculate the total balance in Work in Progress inventory at the end of January. Show all job costs for only the job(s) remaining in this account in the chart started below. Complete the chart headings and costs for job(s) in ending WIP Inventory. (3 marks) Job # Beginning Balance DM Cost DL Cost

4. List the job numbers of the jobs in cost of goods sold at the end of January. (2 marks)