Please leave Column A blank as lwould like to use it for marking purposes. Custom Cabinets Inc. (CCI) uses ajoborder costing system. During February and March only 3 jobs were worked on. Job 1602 was completed on March 15th. The other two jobs were still in process at March 31st, CCl's year end. Here is a summary of the data from the job cost sheets for the 3 jobs: 0 Job 1602 Job 1603 Job 1604 February costs incurred: ' Direct materials $ 16,000 $ 9,000 $ - ' Direct labour 13,500 7,300 ' Manufacturing overhead 21,600 11,680 March costs incurred: ' Direct materials 8,400 21,000 ' Direct Labour 4,000 5,800 10,300 , Manufacturing overhead ? ? '2 Manufacturing overhead is applied to jobs on the basis of direct labour cost. Balances in the inventory accounts at the end of February were as follows: Raw Materials $ 40,000 Work in Process ? Finished goods 85,000 Required (where possible complete your work in the space immediately below each question. If you need more space insert additional rows): 1 What is the February 28th work in process balance? Assume no over/under applied manufacturing overhead. 2 What is the predetermined overhead rate that CCI uses to apply manufacturing overhead? What manufacturing overhead was applied to the 3 labs in March? 3 If CCI incurred actual manufacturing overhead of $4,000 in indirect materials, $8,200 in indirect labour and $20,500 in other various manufacturing overhead costs, what was the over/underapplied overhead for March? 4 What is the Raw Materials ending inventory balance at the end of March assuming CCI did not make any raw material purchases during March? 5 Assume that, during March, CCI sold goods costing $45,000. What is the finished goods inventory balance at the end of March? 5 What is the Work-in-Process Inventory ending balance at March S'lst? Assume over/underapplied inventory is closed out to cost of goods sold