urn to queur Required Information (The following information applies to the questions displayed below! Stellar Sound, Inc. which uses a job order costing system, had two jobs in process at the start of 20xt: job no. 64 ($84100) and job no. 65 ($53,500). The following information is available a. The company applies manufacturing overhead on the basis of machine hours (based on practical capacity) Budgeted overhead and machine activity for the year were anticipated to be $824,000, and 16,000 hours respectively b. The company worked on four jobs during the first quarter. Direct materials used, direct labor incurred, and machine hours consumed were as follows: Direct Material $21,00 Job No 64 65 66 67 Direct Labor $35,000 22,000 65,000 8,800 Machine Hours 1.200 700 2,800 500 44,000 15,000 c. Manufacturing overhead during the first quarter included charges for depreciation ($33,800), Indirect labor ($60,000), indirect materials used ($5,200), and other factory costs ($139,600), d. Stellar Sound completed job no. 64 and job no. 65. Job no. 65 was sold on account producing a profit of $34,800 for the firm 3. Determine the cost of jobs still in production as of March 31 Answer is complete but not entirely correct. Cost of the jobs in production 135,300 Required information The following information applies to the questions displayed below! Stellar Sound, Inc., which uses a job order costing system, had two jobs in process at the start of 20x job no 64 ($84100) and job no 65 ($53,500). The following information is available a. The company applies manufacturing overhead on the basis of machine houts (based on practical capacity), Budgeted overhead and machine activity for the year were anticipated to be $824,000 and 16,000 hours, respectively b. The company worked on four jobs during the first quarter Direct materials used, direct labor incurred, and machine hours consumed were as follows: Direct Material $21,000 Job No. 60 65 66 67 Direct Labor $35,000 22.000 65,000 8,80 Machine Hours 1,200 200 2,000 500 44,000 15,000 c. Manufacturing overhead during the first quarter included charges for depreciation (533,800), indirect labor ($60,000), indirect materials used ($5,200), and other factory costs ($139,600) d. Stellar Sound completed job no. 64 and job no. 65. Job no. 65 was sold on account producing a profit of $34,800 for the firm 4. Did the finished goods inventory increase or decrease during the first quarter? By how much? (Do not round intermediate calculations.) Answer is not complete. increased by The finished goods inventory - Return to question Required information {The following information applies to the questions displayed below Stellar Sound, Ing, which uses a job order costing system, had two jobs in process at the start of 20x1: job no 64 (584 100) and job no. 65 ($53,500). The following information is available: 6. The company applies manufacturing overhead on the basis of machine hours (based on practical capacity) Budgeted overhead and machine activity for the year were anticipated to be $824,000 and 16,000 hours respectively b. The company worked on four jobs during the first quartet Direct materials used, direct labor incurred, and machine hours consumed were as follows: Machine Hours Direct Material $21,000 3o No 64 65 66 Direct Labor $35,000 22.000 65,000 8,880 700 2.ee 500 44.000 15,000 c. Manufacturing overhead during the first quarter included charges for depreciation ($33,800), Indirect labor ($60,000), Indirect materials used ($5,200), and other factory costs ($139,600) d. Stellar Sound completed job no. 64 and job no 65. Job no 65 was sold on account, producing a profit of $34,800 for the firm 5. Was manufacturing overhead under or overapplied for the first quarter of the year? By how much? (Do not round intermediate calculations.) Answer is not complete. underapplied The overhead was for the first quarter of the year by