REQUIRED:

1.What is the predetermined overhead rate for 2018 for Department 203?

2.Apply overhead to each of the jobs worked on in 2018.

3.Jobs 1376 and 1377 were completed during 2018. The jobs yielded 5,000 and 3,000 units of product, respectively. What was the unit cost for each of these products?

4.What is the value of work in process inventory on 12/31/2018? What jobs are included?

5.Was overhead over- or under applied for 2018 in Department 203? By how much?

Please show all the steps and calculations. Thanks.

QUESTION 1: MASCOH (Mueller, Avenatti Stormy, Cohen, Omarosa, and Huckabee) Associates provided the following data for Department 203 for 2018 Work in process as of 1/1/2018 Job No. 1376 Material 17,500 abor Overhead $ 33,000 Total 72,500 22,000 Actual costs incurred by Department 203 during 2018 By Job 1376 1377 1378 1379 TOTAL S1000 7,000 53,000 9,000 4000 1000 8,000 79,000 21,000 5,000 26,000 12,000 Not incurred by job Indirect Materials Indirect Labor Employee Benefits 15.000 53,000 23,000 12,000 20,000 TOTAL Department 203 Overhead Budget for 2018 Indirect Materials Indirect Labor Employee Benefits S16.000 56,000 24,000 20,000 TOTAL $128 000 Budgeted Direct Labor Dollars $ 80,000 Balances at 12/31/2018, before disposition of overlunder applied overhead: Finished Goods Inventory Cost of Goods Sold $106,000 852,000 Overhead is applied based on direct labor dollars