The Young's Company uses a job-order costing system and a predetermined overhead rate based on direct labour hours (DLH). It identified the following estimated manufacturing overhead for the upcoming year: Budgeted Cost Overhead Item Insurance Depreciation Material handling Engineering Total $24,000 $36,000 $122,000 $98,000 $280,000 The estimated direct labour hours for the year were 20,000. On April 1, Raw materials, Work in process and Finished goods had the following beginning balance: Raw materials Work in process (Job No.101) Finished goods $ 6,500 15,000 7,000 The following information pertains to the company's activities for the month of April: 1. Raw materials were purchased on account for $45,000. 2. Job No. 102 was started during the month. 3. Raw materials totalling $40,000 were requisitioned for use in production. Of this total, $6,000 was for indirect materials. The direct materials were distributed as follows: Job No. 101 Job No. 102 $14,000 $20,000 4. Factory labor costs for the month totalled $100,000, of which $4,000 was for indirect labor. The direct labor was distributed as follows: Job No. 101 Job No. 102 $36,000 $60,000 5. The company had depreciation of $3,000 and expired insurance on the factory of $2,000 for the month of April. 6. Other manufacturing costs (excluding direct materials and direct labour) incurred but not paid totalled $8,000. 7. Manufacturing overhead was applied using the predetermined overhead rate. The following is the distribution of direct labour hours (DLH) for April: Job No. 101 Job No. 102 600 DLH 1000 DLH 8. Both Job No. 101 and Job No. 102 were completed during the month. 9. Job No. 101 was sold on account during April at a selling price of $134,800.