Auto Machinery Makes Automobile Production Equipment and Uses Normal Costing

Auto Machinery makes automobile production equipment and uses normal costing.Overhead is applied on the basis of $12 per machine hour.The following information relates to the August jobs:
$\begin{array}{lrrr}&\text { Job } 22&\text { Job } 33&\text { Job }44\\\text { Materials used } & \$ 40,000 & \$ 74,000 & \$ 43,000 \\\text { Direct labor } & \$ 96,000 & \$ 117,000 & \$ 84,000 \\\text { Machine hours } & 9,200 & 7,700 & 6,400\end{array}$
Jobs 22 and 33 were completed and sold,but Job 44 remained in inventory at the end of August.For August,actual overhead incurred totaled $274,000.
(1) Compute the amount of overhead to be applied to each job.

(2) Compute Cost of Goods Sold for August and ending WIP Inventory at Angust 31 .

(3) Compute the amount of overapplied or underapplied overhead for August.

(4) Assume that revenue for Jobs 22 and 33 amounted to $\$ 1,090,000$ , selling expensestotaled $\$ 218,000$ , general and administrative expenses were equal $\$ 98,000$ , and over-or underapplied overhead is immaterial. Using this information, prepare an income statement for the manufacturer for August.