Whitlock Manufacturing uses a job costing accounting system for its production costs. The company uses a predetermined overhead rate based on direct materials costs to apply overhead to individual jobs. The company prepared an estimate of overhead costs at different volumes for the current year as follows:Direct materials costs$ $324,000$$ $414,400$$ $524,000$Variable overhead costs$ $466,560$$ $610,560$$ $754,560$Fixed overhead costs$384,000384,000384,000$Total overhead$ $850,560$$ $994,560$$ $1,138,560$Whitlock expects to spend $$414,400$ in direct materials costs over the entire year. The following information is for May, when Jobs WM$-52$ and WM$-53$ were completed:Inventories, May $1$ Materials and supplies$ $2,920$Work in process $($Job WM$-52)15,100$Finished goods$29,700$Purchases of materials and supplies Materials$ $35,400$Supplies$4,120$Materials and supplies requisitioned for production Job WM$-52$$ $12,900$Job WM$-529,720$Job WM$-546,720$Supplies$1,820$ $ $31,160$Factory direct labor$-$hours $($DLH$)$ Job WM$-52900$ DLHJob WM$-53750$ DLHJob WM$-54500$ DLHLabor costs Direct labor wages $($all hours @ $$22\mathrm{.}00)$$ $47,300$Indirect labor wages $(500$ hours$)8,500$Supervisory salaries$9,320$Building occupancy costs $($heat$,$ light, depreciation, etc.$)$ Factory facilities$ $24,100$Sales and administrative offices$12,100$Factory equipment costs Power$ $13,600$Repairs and maintenance$8,820$Other$13,100$ $ $35,520$Required:Compute the predetermined overhead rate $($combined fixed and variable$)$ to be used to apply overhead to individual jobs during the year.$($Note: Regardless of your answer to requirement $[$a$],$ assume that the predetermined overhead rate is $225\%$ of direct materials cost. Use this rate in answering requirements $[$b$]$ through $[$f$],$ as needed.$)$Compute the total cost of Job WM$-52$ when it is finished.How much of factory overhead cost was applied to Job WM$-54$ during May?What total amount of overhead was applied to jobs during May?Compute actual factory overhead incurred during May.At the end of the year, Whitlock Manufacturing had the following account balances:Underapplied overhead$ $51,200$Work$-$in$-$process inventory$23,000$Finished goods inventory$192,300$Cost of goods sold$1,851,900$Assuming that the underapplied overhead is not material, show the new account balances in the following table.