Explain the process:

Man Decisions Megan . Saved to this PC. Search References Mailings Review View Help - A A A E EEEE 2 T A.D.A. - Paragraph 1 Normal 1 No Spac... Heading 1 Heading 2 He Styles Problem #2: Job 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: Job 22 Job 33 Job 44 Materials used Direct labor Machine Hours $40,000 $96,000 9,200 $ 74,000 $117,000 7,700 $43,000 $84,000 6,400 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. Required: 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 August 31. 3. Compute the amount of over- or underapplied overhead for August. 4. Assume that revenue for Jobs 22 and 33 amounted to $1,090,000, selling expenses totaled $218,000, general and administrative expenses were equal to $98,000, and over or underapplied overhead is immaterial. Using this information, prepare an income statement for the manufacturer for August Problem #3: Process Costing Calculate the number of equivalent units for each of the following independent cases. 1. A trade school has 1.000 students enrolled in classes during the current term. The dean is