Slower Company uses a job$-$order cost system in each of its two manufacturing departments. Manufacturing overhead is applied to jobs on the basis of direct labour cost in Department A and machine hours in Department B$.$

In establishing the predetermined overhead rates for $2020,$ the following estimates were made for the year:

Estimates for the year

During January, the job cost sheet showed the following costs and production data:

The job cost sheet

Complete the following tasks:

Calculate the predetermined overhead rate for each department.

Calculate the total manufacturing cost assigned to jobs $14$ and $15$ in January.

What is the purpose of job cost accounting?

Part $4$

Calculate the cost of goods manufactured and sold.

Sinjay Corporation incurred the following costs while manufacturing its product:

Materials used in product

$$120,000$

Advertising expense

$$45,000$

Depreciation on factory

$60,000$

Property taxes on factory

$19,000$

Property taxes on warehouse

$7,500$

Delivery expense

$21,000$

Labour costs of assembly$-$line workers

$110,000$

Sales commissions

$35,000$

Factory supplies used

$25,000$

Salaries paid to sales clerks

$50,000$

Work in process inventory was $$10,000$ at January $1$ and $$14,000$ at December $31.$ Finished goods inventory was $$60,000$ at January $1$ and $$50,600$ at December $31.$

Complete the following tasks:

Calculate the cost of goods manufactured.

Calculate the cost of goods sold.