managerial accounting. all i was given

(Appendix 4A) Overhead Application, Journal Entries, Job Cost Calculations Journal Concluding Questions Instructions X At the beginning of the year, Smith Company budgeted overhead of $129,600 as well as 13,500 direct inbor hours. During the year, Job K456 was completed with the following information: direct materials cost $2,750; direct labor cost, $5,355. The average wage for Smith Company employees is $17 per hour By the end of the year, 18.100 direct labor hours had actually been worked, and Smith incurred the following actual overhead costs for the year: Equipment fonso Depreciation on building Indirect labor $ 6,800 19,340 90.400 Utilities 14,560 Other overhead 41,400 Required: 1. Calculate the overhead rate for the year. 2. Calculate the fotal cost of Job K456 3. Prepare the Dec. 31 journal entries to record actual overhead and to apply overhead to production for the year, 4. Is overhead overapplied or underapplied? By how much? 5. Assuming that the normal cost of goods sold for the year is $635,600, what is the adjusted cost of goods sold? General Ledger tt fo ASSETS REVENUE y1 110 Cash 410 Sales 120 Accounts Receivable 131 Supplies EXPENSES 132 Prepaid Insurance 510 Cost of Goods Sold 141 Raw Materials 520 Insurance Expense 142 Work in Process 143 Overhead Control 530 Wages Expense 540 Supplies Expense 550 Utilities Expense 144 Finished Goods 170 Land 560 Depreciation Expense 180 Building 590 Miscellaneous Expense 181 Accumulated Depreciation LIABILITIES 210 Accounts Payable 220 Wages Payable 230 Utilities Payable 240 Lease Payable 250 Other Payables EQUITY 310 Common Stock 320 Retained Earnings endix 4A) Overhead Application, Journal Entries, Job Cost Calculations Journal Concluding Questions Chart of Accounts 132 Prepaid Insurance 10 COSE ON GOOGS SOIC Calculations 1. Calculate the overhead rate for the year. The overhead rate for the year is S per direct labor hour. 2. Calculate the total cost of Job K456. The total cost of Job K456 is $ wouma By 1. 3. Prepare the journal entries for December 31 to record actual overhead and to apply overhead to production for the year. Refer to the Chart of Accounts for the exact wording of TH account bas. 2 PAGE 15 TH GENERAL JOURNAL DATE ACCOUNT POST RIF DERIT CREDIT 1 4. Is overhead overapplied or underapplied? By how much? Overhead is by $ 5. Assuming that the normal cost of goods sold for the year is $635,600, what is the adjusted cost of goods sold? The adjusted cost of goods sold is $