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In November 2019, Bloom Company's production manager estimated next year's total direct labor cost as 115,000 hours at an average wage rate of $30 per

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In November 2019, Bloom Company's production manager estimated next year's total direct labor cost as 115,000 hours at an average wage rate of $30 per hour. The manager also estimated the following manufacturing overhead costs for 2020. Indirect labor Rent on factory building Factory insurance Repairs factory equipment Depreciation factory equipment $400,000 $225,000 $106,000 $50,000 $374,000 Factory supervision Factory utilities Miscellaneous costs Factory supplies used $210,000 $82,000 $156,000 $62,000 At the end of 2020, records show the company incurred $1,655,000 of actual overhead costs. It completed and sold five jobs with the following direct labor costs: Job 201, $700,000; Job 202, $825,000; Job 203, $474,000; Job 204, $916,000; and Job 205, $213,000. In addition, Job 206 is in process at the end of 2020 and had been charged $200,000 for direct labor. No jobs were in process at the end of 2019. The company's predetermined overhead rate is based on direct labor cost. Required: Determine the following. (Ignore any end of period adjustments for over or under applied overhead.) 1. What is the total estimated manufacturing overhead for 2020? 2. What is the predetermined overhead rate for 2020? Round to 3-digits after the decimal point. 3. How much overhead is assigned to Job 203 Work in Process in 2020? 4. How much overhead cost is applied to Work in Process in total) during 2020? 5. At the end of 2020 how much manufacturing overhead remains in Work in Process? (Ignore any balance in the overhead account.) 6. At the end of 2020 and before adjustment, what are the total amount of debits assigned to the manufacturing overhead account? 7. At the end of 2020 and before adjustment, what are the total amount of credits assigned to the manufacturing overhead account? 8. Assume an actual overhead system is used rather than a predetermined rate. What would be the actual overhead rate? 9. Using the actual overhead rate, how much overhead would be assigned to Job 203? 10. Using actual overhead rates, what is the ending balance in the overhead account

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