Question: Second time asking this question (as when asked first time there was not enough information, this is all the information provided, hope you can help!

Second time asking this question (as when asked first time "there was not enough information", this is all the information provided, hope you can help! :)Second time asking this question (as when asked first time "there was

not enough information", this is all the information provided, hope you can

The following incomplete information is provided in relation to Newfield Ltd for the month of January. The actual labour rate is $15 per hour, and overhead is applied on the basis of $16.50 per direct labour hour. (0) Jobs sold during the month were sold for $560,000 (credit sales). The cost of the goods sold during the month was $385,000. (i) Office supplies inventory worth $4,500 were issued to production during January. (iv) A total of 5,000 labour hours were worked during normal working hours. Total overhead premiums incurred during the month are $3738. () Sundry manufacturing overhead costs incurred during January were $57,000. Raw Material Inventory Work in Process Inventory Bal. 1/1 $23,000 b) Bal. 1/1 $33,500 f) d) e) a Bal 31/1 $22.000 Bal 31/1 $37,600 Cost of Goods Sold Finished Goods Inventory Bal.1/1 $82,000 h) i) Bal 31/1 $41,500 Manufacturing Overhead k) m) 1) Sundry OH $57,000 Sales Revenue A/C Rec $560,000 Required: i) Complete the T accounts providing the amounts of a) to m) to show the flow of costs through the company's manufacturing accounts. (NB: No entry is required to close the amount of over/under applied overhead in this part of the question) (6 marks) ii) Was manufacturing overhead under/over applied during January and by how much? (2 marks) III oo i) a) b) c) ds e 82 11)

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