Reed Incorporated uses a job-order costing system and a predetermined overnead rate based on machinet nours. At the beginning of the year, the company estimated that the manufacturing overhead for the year would be $240,000 and machine hours would be 8,000 . The following information pertains to December of the current year: Actual manufectuning trerhesd cost inturred in December was $61,000. D. If Job 10 was delivered to customers that paid $50,000 in cash, prepare the fournal entries. t ouchtar in F Cowby visis leconect 1.. Wothat is the grows margin for Job 10 ? F. What is the cost assigned te ending work in beceses? 6. Mswinies no beginaing finished goods balance, what is the cost astigned to ending finished goods? 14. Bow much was coetitsad overiunderapeled? fleed ficorporated uses a jobiorder costing. System and a predetermined overhead rate based on machine howirs: Wt the bexithing of the yeaz, the corrpamy estimated that the manufacturing overhed for the yeor would be $240,000 and mactine hours would be 8,000. Reevitedi Cominte the predeternined overtassd apphitation rate C. If Jobs 10 and 12 were completed, prepare the journal entry to transfer the cost. Favitex theingywo Correct. D. If Jab 10 was delivered to cuntomers that paid $50,000 in cash, prepare the journal entries R. What is the gross margin for Job 107 F. What is the coet assigeted to ending work in process? H. How riuch was ovethad oyethunderappled