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 $180,000200,000240,000$

Variable overhead costs $ $684,000$ $ $760,000$ $ $912,000$

Fixed overhead costs $1,440,0001,440,0001,440,000$

Total overhead $ $2,124,000$ $ $2,200,000$ $ $2,352,000$

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 $ $90,500$

Work in process $($Job $302)197,300$

Finished goods $497,800$

Purchases of raw materials and supplies

Raw materials $ $1,362,200$

Supplies $174,800$

Materials and supplies requisitioned for production

Job $302$ $ $603,500$

Job $304508,300$

Job $305101,700$

Supplies $33,600$

$ $1,247,100$

Machine$-$hours $($MH$)$

Job $3026,700$ MH

Job $3046,600$ MH

Job $3054,000$ MH

Direct labor$-$hours $($DLH$)$

Job $3029,200$ DLH

Job $3044,000$ DLH

Job $3052,400$ DLH

Labor costs

Direct labor wages $($all hours @ $$32\mathrm{.}00)$ $ $499,200$

Indirect labor wages $(1,100$ hours$)19,800$

Supervisory salaries $28,200$

Building occupancy costs $($heat$,$ light, depreciation, etc.$)$

Factory facilities $ $28,500$

Sales and administrative offices $30,700$

Factory equipment costs

Power $ $46,800$

Repairs and maintenance $17,600$

Other $22,200$

$ $86,600$

Required:

$1.$ Compute the total cost of Job $302$ when it is finished.

Note: the predetermined overhead rate $$11$ per machine hour $.$Regardless of your answer to requirement $[$a$],$ assume that the predetermined overhead rate is $$12$ per machine$-$hour. Use this amount in answering requirements $[$b$]$ through $[$f$],$ as needed.

$2.$ How much of factory overhead cost was applied to Job $305$ during March?

$3.$ What total amount of overhead was applied to jobs during March?

$4.$ Compute actual factory overhead incurred during March. Show the overapplied overhead effect on the account balances $($final balances after allocation$)$ in the following table.

At the end of the year, Sorrento Products had the following account balances:

Balance

Overapplied overhead $ $1,680,000$

Work$-$in$-$process inventory $2,640,000$

Finished goods inventory $960,000$

Cost of goods sold $20,400,000$