Rainbow Glass Company manufactures decorative glass products. The firm employs a processscosting system for its manufacturing operations. All direct materials are added at the beginning ofthe process, and conversion costs are incurred uniformly throughout the process. The company's production schedule for October follows: Units Work in process on October 1 (76% complete as to conversion) 2,466 Units started during October 4,166 Total units to account tor 6,566 Units 'From beginning work in process, which were completed and transferred out during October 2,466 Units started and completed during October 1,766 Work in process on October 31 {26% complete as to conversion) 2,466 Total units accounted tor 6,566 Required: Calculate each of the following amounts using weightedsaverage process costing. 1. Equivalent units of direct material during October. 2. Equivalent units of conversion activity during October. Direct material 2 Conversion Required information Exercise 3-34 Overapplied or Underapplied Overhead {LO 3-4, 3-5) [The following information applies to the questions displayed below. ] The following information pertains to Trenton Glass Works for the yearjust ended. Budgeted directlabor cost: 75000 hours (practical capacity) at $16 per hour Actual direct-labor cost: 80,000 hours at $17.50 per hour Budgeted manufacturing overhead: $997,500 Actual selling and administrative expenses: 433.000 Actual manufacturing overhead: Depreciation $233,000 Property taxes 22,000 Indirect labor 82,000 Supervisory salaries 200,000 Utilities 58,000 Insurance 31,000 Rental of space 303,000 Indirect material (see data below) 78,000 Indirect material: Beginning inventory, January 1 48,000 Purchases during the year 94,000 Ending inventory, December 31 64,000 Exercise 3-34 Part 2 2. Calculate the overappiied or underappiied overhead for the year. (Round your intermediate calculations In 2 decimal places.)