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That is the full question. What other information should I provide? a. Direct manufacturing labor wage rate was $15 per hour. b. Manufacturing overhead was

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That is the full question. What other information should I provide?

a. Direct manufacturing labor wage rate was $15 per hour. b. Manufacturing overhead was allocated at $19 per direct manufacturing labor-hour. c. During the year, sales revenues were $1,070,000, and marketing and distribution costs were $124,000. Cole Company uses normal costing in its job-costing system. Partially completed T-accounts and additional information for Cole for 2020 are as follows: (Click the icon to view the T-accounts.) (Click the icon to view the additional information.) Read the requirements. Requirement 1. What was the amount of direct materials issued to production during 2020? Direct materials issued to production during 2020 was 1. What was the amount of direct materials issued to production during 2020? 2. What was the amount of manufacturing overhead allocated to jobs during 2020? 3. What was the total cost of jobs completed during 2020? 4. What was the balance of work-in-process inventory on December 31, 2020? 5. What was the cost of goods sold before proration of under-or overallocated overhead? 6. What was the under-or overallocated manufacturing overhead in 2020? 7. Adjust for the under- or overallocated manufacturing overhead using the following: a. Write-off to Cost of Goods Sold b. Proration based on ending balances (before proration) in Work-in-Process Control, Finished Goods Control, and Cost of Goods Sold 8. Using each of the approaches in requirement 7, calculate Cole's operating income for 2020. 9. Which approach in requirement 7 do you recommend Cole use? Explain your answer briefly. Direct Materials Control 1-1-2020 41,000 237,000 Finished Goods Control 1-1-2020 14,000 884,960 Work-in-Process Control 1-1-2020 46,000 Dir. Manuf. labor 357,000 Manufacturing Overhead Allocated 138,000 Manufacturing Overhead Control 517,000 926,270 Cost of Goods Sold Print Done

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