Stellar Sound, Inc. which uses a job-order costing system, had two jobs in process at the start of 20x1: job no. 64 ($84,100) and job no. 65 ($53,300). The following information is available: a. The company applies manufacturing overhead on the basis of machine hours (based on practical capacity). Budgeted overhead and machine activity for the year were anticipated to be $808,000, and 16,000 hours, respectively. b. The company worked on four jobs during the first quarter. Direct materials used, direct labor incurred, and machine hours consumed were as follows:

job no	direct material	direct labor	machine hours
64	21,000	35,000	1200
65		22000	700
66	44,000	65000	2000
67	15000	8800	500

c. Manufacturing overhead during the first quarter included charges for depreciation ($33,900), indirect labor ($60,100), indirect materials used ($5,100), and other factory costs ($139,600). d. Stellar Sound completed job no. 64 and job no. 65. Job no. 65 was sold on account, producing a profit of $34,900 for the firm.

1A. Journal entry for completion of job no 64 and 65

debit finished goods at ? amount

credit works in process at ?? amount

1B. Journal entry for job no 65

Debit A/R at ???? amount

Credit sales revenue at ???? amount

Debit cost of goods sold at ???? amount

Credit finished goods at???? amount

2. Determine the cost of the jobs still in production as of March 31. 3. Did the finished-goods inventory increase or decrease during the first quarter? By how much?

4. Was manufacturing overhead under- or overapplied for the first quarter of the year? By how much? (Omit the "$" sign in your response.)