SECTION D Starling Company's predetermined overhead application rate during a recent month was 150% of direct labor. The company's activities related to manufacturing during the month of September 2020 were: a. Purchased raw materials with cash, $11,250. b. Paid factory wages with cash $99,750. c. Paid miscellaneous factory overhead costs with cash, $100,000. d. Materials requisitions for the month show that the following materials were used on jobs and indirectly : Job 487 $22,500 Job 488 12,000 Job 489 12,000 indirect materials 3,750 e. Labor time tickets for the month show the following labor was used on jobs and indirectly (answer on answer grid): Job 487 $26,000 Job 488 25,500 Job 489 35,500 indirect labour 12,750 f. Overhead was applied to Jobs 487 and 488 g. Jobs 487 & 488 were completed and transferred to finished goods. h. Job 487 was sold for $150,000 to a credit customer. i. At the end of the month, overhead is applied to the goods in process (Job 489). j. Dispose of any over or under applied overhead directly to Cost of Goods Sold (answer on answer grid REQUIRED: Complete a job order cost sheet for Job 487. a) The purchase of materials (both direct and indirect materials) Raw Materials 11,250 Cash 11,250 b) Payment of wages Factory Payroll 99,750 Cash 99,750 c) Payment of overhead costs. 100,000 Factory Overhead Incurred Cash 100,000 d) Issuance of materials GIP #487 22,500 GIP #488 12,000 GIP #489 12,000 Factory Overhead Incurred 3,750 Raw Materials 50,250 e) Record Labour usage (RECORD on ANSWER SHEET). Remember to INCLUDE IN YOUR ANSWER f) Application of Overhead to Jobs that have been worked on and completed during the period. GIP #487 39,000 GIP #488 38,250 77,250 Factory Overhead Applied g) Transferring jobs/units that have been completed. Finished Goods 163.250 GIP #487 87,500 GIP #488 75,750 h) Recording jobs that have been SOLD. Accounts Rec. 150,000 Sales 150,000 Cost of Goods Sold 87,500 Finished Goods #487 87,500 i) Application overhead to jobs that are not complete. GIP #489 53,250 53,250 Factory Overhead Applied j) record on answer on grid (remember to include e in your calculation)