Specifically looking for help with question #5 about Job 32. The answers shown in the Photo from my attempt are incorrect.

Transcribed image text: Pretermined Overeates, Variances, Coulos Bawyer Costume Company located in New York Owners and m anymore anym oroduces th e one Ow Instinctions 210.000 Complete Overhead Cost of Goods Sold 210,000 Job 32 was the only in process of the end of the first quarter. A total of 1000 direct labor hours 1510 per hour were charged to Job 32 A Required v e l ed one of warcow, what was the overhead rated the two year 2. What was the overhead for w a ter? The overhead? The under overlede 3. What was the cost of the good manufactured for the 4. Asume I ever s ee me cow of goods and account Prepare the journal entry to s e veral account on March 31 Peterone Chart of Accounts for accounts where in Cost of Goods Sou? 5. For de me concurred for direct director and overhead Chart of Accounts CHART OF ACCOUNTS Barrymore Costume Company General Ledger ASSETS 110 Cash REVENUE 410 Sales 120 Accounts Receivable 131 Supplies 132 Prepaid Insurance 141 Raw Materials 142 Work in Process EXPENSES 510 Cost of Goods Sold 520 Insurance Expense 530 Wages Expense 540 Supplies Expense 550 Utilities Expense 560 Depreciation Expense 590 Miscellaneous Expense 143 Overhead Control 144 Finished Goods 170 Land 180 Equipment 181 Accumulated Depreciation LIABILITIES 210 Accounts Payable 220 Wages Payable 230 Utilities Payable 240 Lease Payable 5. For Job 32, identify the costs incurred for direct materials, direct labor, and overhead. Determine the ending Work in Process amount Job 32 1 Direct labor 2 Overhead applied $80,000.00 138,500.00 40,000.00 5 Direct materials Ending work in process $258,500.00 Predetermined Overhead Rates, Variances, Cost Flows Barrymore Costume Company, located in New York City, sews costumes for plays and musicals. Barrymore considers itself primarily a service firm, as it never produces costumes without a preexisting order and only purchases materials to the specifications of the particular job. Any finished goods ending inventory is temporary and is zeroed out as soon as the show producer pays for the order. Overhead is applied on the basis of direct labor cost. During the first quarter of the year, the following activity took place in each of the accounts listed: Work In Process 17,000 Complete 245,000 80,000 140,000 40,000 32,000 Finished Goods Bal 40,000 Sold 210,000 Complete 245,000 Bal 75,000 Overhead 138,500 140,000 1,500 Instructions Finished Goods Bal. 40,000 Sold 210,000 Complete 245,000 Bal. 75,000 Overhead 138,500 140,000 Bal. 1,500 Cost of Goods Sold 210,000 Job 32 was the only job in process at the end of the first quarter. A total of 1,000 direct labor hours at $10 per hour were charged to Job 32. Required: 1. Assuming that overhead is applied on the basis of direct labor cost, what was the overhead rate used during the first quarter of the year? 2. What was the applied overhead for the first quarter? The actual overhead? The under-or overapplied overhead? 3. What was the cost of the goods manufactured for the quarter? 4. Assume that the overhead variance is closed to the cost of goods sold account. Prepare the journal entry to close out the overhead control account on March 31. Refer to the Chart of Accounts for account titles. What is the adjusted balance in Cost of Goods Sold? 5. For Job 32, Identity the costs incurred for direct materials, direct labor, and overhead