Question: what am i missing in these 2 problems? _________________________________ Information on Kwon Manufacturing's activities for its first month of operations follows: a. Purchased $100,700 of

what am i missing in these 2 problems?  what am i missing in these 2 problems? _________________________________ Information on
Kwon Manufacturing's activities for its first month of operations follows: a. Purchased
_________________________________
$100,700 of raw materials on credit. b. Materials requisitions show the followina
materials used for the month. c. Time tickets show the following labor

Information on Kwon Manufacturing's activities for its first month of operations follows: a. Purchased $100,700 of raw materials on credit. b. Materials requisitions show the followina materials used for the month. c. Time tickets show the following labor used for the month. d. Applied overhead to Job 201 and to Job 202 using a predetermined overhead rate of 80% of direct materials cost. e. Transferred Job 201 to Finished Goods Inventory. f. Sold Job 201 for $165,860 on credit. q. Incurred the following actual other overhead costs for the month. At the beginning of the year, Mirmax set its predetermined overhead rate for movies produced during the year by using the following estimates: overhead costs, $1,755,000, and direct labor costs, $450,000. At year-end, the company's actual overhead costs for the year are $1,743,200 and actual direct labor costs for the year are $450,000. 1. Determine the predetermined overhead rate using estimated direct labor costs. 2. Enter the actual overhead costs incurred and the amount of overhead cost applied to movies during the year using the predetermined overhead rate. Determine whether overhead is over-or underapplied (and the amount) for the year. 3. Prepare the entry to close any over- or underapplied overhead to Cost of Goods Sold. Complete this question by entering your answers in the tabs below. Enter the actual overhead costs incurred and the amount of overhead cost applied to movies during the year using the predetermined overhead rate. Determine whether overhead is over-or underapplied (and the amount) for the year. Journal entry worksheet Record entry to close underapplied /overapplied overhead. Note: Enter debits before credits

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