Tadom Manufacturing Corporation is a small manufacturer that uses machine-hours as its activity base for assigned overhead costs to goods. At the beginning of the year 2017, the company estimated the following amounts: Direct materials Direct labor Manufacturing overhead costs Machine hours RM50,000 RM36,000 RM60,000 100,000 hours The following inventory information is available for Tadom Manufacturing Corporation for the year ended December 31,2017 Inventories Raw materials Work in process Finished goods Total Ending RM18,000 RM24.000 8,000 9,000 1,000 5,000 10,000 33000 In addition, the following transactions occurred in 2017 . Raw materials purchased on account, RM66,000 2. Incurred factory labor, RM20,000 direct labor and RM 12,000 indirect labor 3. Incurred the following overhead costs during the year Factory utilities RM11800, Depreciation on manufacturing machinery RM10,000, Manufacturing machinery repairs RM9,200, Factory prepaid insurance RM9,000. Actual machine hours used during 2017 was 116,000 hours. 4. Instructions: (a) Journalize the above transactions. Show the calculation of overhead applied amount. From the above transactions: 6 marks) (b) Compute raw materials used. Based on your answer, show the transaction to record the usage of raw material in production, consider that one third (2 marks) 2. Compute completed goods transferred to finished goods. Based on your answer, show the transaction to record the movement of completed goods (2 marks) Compute cost of goods sold. Based on your answer, show the transaction to record the sales of finished goods. Assume that all sales transactions are on account and goods are sold 20% above cost. (Ignore any under or over (3 marks) 4.Compute under or over applied overhead. Based on your answer, show the transaction to transfer any under or over applied overhead to Cost of goods (2 marks) of raw material used is indirect material. to finished goods warehouse applied overhead amount.) sold