Question 4 Hassenger has a job-order costing system. The company applies manufacturing overhead to jobs using...

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Question 4 Hassenger has a job-order costing system. The company applies manufacturing overhead to jobs using a predetermined overhead rate based on direct labor cost. The information below has been taken from the cost records of the company for the past year: Direct materials used in production Total manufacturing costs Applied manufacturing overhead Selling & Administrative expense Inventories: RM1,400 8,000 3,300 2,150 Direct materials, January 1 RM480 Direct materials, December 31 520 Work in process, January 1 730 Work in process, December 31 650 Finished goods, January 1 480 Finished goods, December 31 460 Required: (a) Compute the cost of direct materials purchased during the year. (5 marks) (b) Compute the predetermined overhead rate that was used during the year. (6 marks) (c) Compute the Cost of Goods Manufactured for the year. (6 marks) (d) Compute the Cost of Goods Sold for the year. (Do not close any under- or over-applied manufacturing overhead to Cost of Goods Sold.) (6 marks) Question 4 Hassenger has a job-order costing system. The company applies manufacturing overhead to jobs using a predetermined overhead rate based on direct labor cost. The information below has been taken from the cost records of the company for the past year: Direct materials used in production Total manufacturing costs Applied manufacturing overhead Selling & Administrative expense Inventories: RM1,400 8,000 3,300 2,150 Direct materials, January 1 RM480 Direct materials, December 31 520 Work in process, January 1 730 Work in process, December 31 650 Finished goods, January 1 480 Finished goods, December 31 460 Required: (a) Compute the cost of direct materials purchased during the year. (5 marks) (b) Compute the predetermined overhead rate that was used during the year. (6 marks) (c) Compute the Cost of Goods Manufactured for the year. (6 marks) (d) Compute the Cost of Goods Sold for the year. (Do not close any under- or over-applied manufacturing overhead to Cost of Goods Sold.) (6 marks)