questions 1-4

Part 1 Boemerang Inc. produces a range of chemical products for industries on getting bulk orders. It uses a job-costing system to calculate the cost of a particular job. Materials and labors used in the manufacturing process are direct in nature, but manufacturing overhead is allocated to different jobs using direct manufacturing laboc costs. Boemerang. provides the following information: The job-cost records for Job 635 contained the following information: Required: 1. Compute the actual and budgeted manufacturing overhead rates for 2020. 2. Compute the cost of Job 635 using (a) actual costing and (b) normal costing. Part 2 Bike Brakes assembles and sells bikes and uses standard costing. Actual data relating two months of the year are as follows: The selling price per bike is $305. The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is 4800 units. Any production-volume variance is written off to cost of goods sold in the month in which it occurs. Required: 3. Prepare the income statement for May under variable costing. 4. Calculate the ending inventory in dollars under variable costing for May