Steel Incorporated Uses a Job-Order Costing System and a Predetermined

Steel Incorporated uses a job-order costing system and a predetermined overhead rate based on machine hours.
At the beginning of the year,the company estimated manufacturing overhead for the year would be $240,000 and machine hours would be 8,000.
The following information pertains to November of the current year: $\begin{array}{lrrrr} & \text { Job 10 } & \text { Job 11 } & \text { Job 12 } & \text { Total } \\\text { Work in Frocess, Nov. } 1 & \$ 16,000 & \$ 26,000 & \$ 38,000 & \$ 80,000\end{array}$ December production activity: $$\begin{array} { l r r r r } \text { Materials requisitioned } & \$ 4,000 & \$ 4,800 & \$ 7,200 & \$ 16,000 \\\text { Direct labour cost } & \$ 2,400 & \$ 3,600 & \$ 4,000 & \$ 10,000 \\\text { Machine hours } & 400 & 700 & 900 & 2,000 \\\text { Labour hours } & 120 & 180 & 200 & 500\end{array}$$ Actual manufacturing overhead cost incurred in November was $61,000.
Required: A. Compute the predetermined overhead application rate.
B. Determine the total cost associated with each job.
C. If Jobs 10 and 12 were completed, prepare the journal entry to move the cost.
D. If Job 10 was delivered to customers that paid $\$ 50,000$ cash, prepare the journal entries.
E. What is the gross profit for Job 10 ?
F. What is the cost assigned to ending work in process?
G. Assuming no beginning finished goods, what is the cost assigned to ending finished
G. goods?
H. How much was overhead overapplied or underapplied?