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solve these 2 please 5. For Neeraj Company, the predetermined overhead rate is 130% of direct labor cost. During the month, Neeraj incurred $1,000,000 of
solve these 2 please
5. For Neeraj Company, the predetermined overhead rate is 130% of direct labor cost. During the month, Neeraj incurred $1,000,000 of factory labor costs, of which $850,000 is direct labor and $150,000 is indirect labor. Actual overhead incurred was $1,150,000. Required: a) Compute the amount of manufacturing overhead applied during the month. b) Determine the amount of under/over applied manufacturing overhead. c) Pass the journal entry to record the under/over applied overheads. 6. Johnson manufactures Xingo through two processes: mixing and packing. In June, raw materials used were mixing $ 40,000 and packing $ 20,000. Factory labour costs were mixing $ 60,000 and packing $ 40,000. Manufacturing overhead costs were mixing $ 80,000 and packing $ 75,000. The company transfers units completed at a cost of $ 70,000 in the mixing department to the packing department. The packing department transfers units completed at a cost of $ 130,000 to Finished Goods. Required: Journalize the assignment of these costs to the two processes and the transfer of units as appropriateStep by Step Solution
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