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Question 1: Tata Motors produces trucks for commercial use. The company uses a normal job-order costing system to calculate its cost ofgoods manufactured- On January 01, 2019, there was only onejob In process with the following costs: lob Fit1 Direct materials 5 5,000 Direct labour 15,000 Applied overhead 30,000 Total $50,000 The following balances were taken from the general ledger of the company as ofJanuary 1, 2019: Direct materials inventory $35,000 Finished goods inventory {for Job D1} $65,000 During the year 2016, the following events occurred: Direct materials were purchased on account for $215,000 Two more jobs were started: Job B-1 and Job C1. Direct materials and direct labour costs incurred by each job in process during the year 2019 are as follows: Job A~1 Job B-1 Job C-l Direct Materials $150,000 $30,000 $10,000 Direct Labour $150,000 $35,000 $15,000 The company incurred the following actual factory overhead during the year: Factory rent $120,000 Factory supplies 5 45,500 Indirect labour 5 75,750 Jobs A-1 and 5-1 were completed, and Jobs D-1 and A-1 were sold. a. Calculate the total applied overhead for the year 2019 ii the factory overhead costs are applied to eachjob on the basis of direct labour dollars. [2 Marks] b. Determine whether overhead is over-applied or under-applied. By how much? [2 Marks] c. Prepare simplejob order cost sheets for Jobs iii-1, 3-1, and (2-1. [3 Marks] d. Prepare a schedule of cost of goods sold, identifying both normal and adjusted cost of goods sold, for the year ended December 31, 2019. [6 Marks]