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Tyler Tooling Company uses a job order cost system with overhead applied to products on the basis of machine hours. For the upcoming year, the

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Tyler Tooling Company uses a job order cost system with overhead applied to products on the basis of machine hours. For the upcoming year, the company estimated its total manufacturing overhead cost at $239,400 and total machine hours at 63,000 . During the first month of operations, the company worked on three jobs and recorded the following actual direct materials cost, direct lation cost, and machine hours for each job: Job 101 was completed and sold for $51,100. Job 102 was completed but not sold Job 103 is still in process. Actual overhead costs recorded during the first month of operations totaled $16,460. Required: 1. Calculate the predetermined overhead rate: Note: Round your answer to 2 decimal places. 2 Compute the total manufacturing overhead applied to the Work in Process Inventory account during the first month of operations Note: Round your intermediote calculations to 2 decimal places. 3. Compute the balance in the Work in Process Inventory account at the end of the first month. Note: Round your intermediate calculations to 2 decimal ploces. 4. How much gross profit would the company report during the first month of operations before making an adjustment for over-or underapplied manufacturing overhead? Vote: Round your intermediate calculations to 2 decimal places. -o. Determine the balance in the Manufacturing Overhead account at the end of the first month. lote: Round your intermediate colculations to 2 decimal places. -b. Is it over-or underapplied

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