waldo manufacturing company employs a job cost accounting system and keeps perpetual inventory records.

Waldo Manufacturing Company employs a job order cost accounting system and keeps perpetual inventory records. The following transactions occurred in the first month of operations: 1. Direct materials requisitioned during the month: Job 33 $40,000 Job 34 32000 Job 35 48.000 $120.000 2. Direct labor incurred and charged to jobs during the month was: Job 33 $64,000 Job 34 56000 Job 35 40.000 $160.000 3. Manufacturing overhead was applied to jobs worked on using a predetermined overhead rate based on 75% of direct labor costs. 4. Actual manufacturing overhead costs incurred during the month amounted to $132,000 5. Job 33 consisting of 1,000 units and Job 35 consisting of 200 units were completed during the month. Instructions (a) Prepare journal entries to record transactions #1 through 85. Hint: On your scratch paper open a t-account for each job and post. (b) Answer the following questions: 1. How much manufacturing overhead was applied to Job 35 during the month? 2. Compute the unit cost of Jobs 33 and 35 3. What is the balance in Work in Process Inventory at the end of the month? 4. Determine if manufacturing overhead was under or over-applied during the month. How much is the over or under amount? TTTT Pareren AL