Sorrento Products uses a job costing accounting system for its manufacturing costs. A predetermined overhead rate based on machine-hours is used to apply overhead to individual jobs. An estimate of overhead costs at different volumes was prepared for the current year as follows. Machine-hours. Variable overhead costs Fixed overhead costs Total overhead 180,000 $ 684,000 1,440,000 $ 2,124,000 200,000 $760,000 1,440,000 $ 2,200,000 240,000 $ 912,000 1,440,000 $ 2,352,000 The expected volume is 200,000 machine-hours for the entire year. The following information is for March, when Jobs 302 and 304 were completed: Inventories, March 1 Raw materials and supplies. Work in process (Job 302) Finished goods Purchases of raw materials and supplies Raw materials Supplies Materials and supplies requisitioned for production Job 302 Job 304 Job 305 Supplies Machine-hours (MH) $ 90,500 197,300 497,800 $ 1,362,200 174,800 $ 603,500 508,300 101,700 33,600 $ 1,247,100 Job 302 Job 304 Job 305 Direct labor-hours (DLH) Job 302 Job 304 Job 305 Labor costs Direct labor wages (all hours $32.00) Indirect labor wages (1,100 hours) Supervisory salaries Building occupancy costs (heat, light, depreciation, etc.). Factory facilities Sales and administrative offices Factory equipment costs Power Repairs and maintenance. Other 6,700 MH 6,600 MH 4,000 MH 9,200 DLH 4,000 DLH 2,400 DLH $ 499,200 19,800 28,200 $ 28,500 30,700 $ 46,800 17,600 22,200 $ 86,600 Required: a. Compute the predetermined overhead rate (combined fixed and variable) to be used to apply overhead to individual jobs during the year. (Note: Regardless of your answer to requirement [a], assume that the predetermined overhead rate is $12 per machine-hour. Use this amount in answering requirements (b) through (1. as needed.) b. Compute the total cost of Job 302 when it is finished. c. How much of factory overhead cost was applied to Job 305 during March? d. What total amount of overhead was applied to jobs during March? e. Compute actual factory overhead incurred during March. f. At the end of the year, Sorrento Products had the following account balances: Overapplied overhead Work-in-process inventory Finished goods inventory Cost of goods sold Balance $ 1,680,000 2,640,000 960,000 20,400,000 Show the overapplied overhead effect on the account balances (final balances after allocation) in the following table.