7. Calculate the total cost and the cost per uniform of the Key job using normal costing.

8. Calculate the total cost and the cost per uniform of the Key job using actual costing

9. Explain when Company XYZ knows the cost of the Key job that you calculated in the previous two questions. Be specific your responses should include a month and year you expect this information to be available, and the explanation for why you chose that month and year.

a. Question 7

b. Question 8

10. Which form of job costing is Company XYZ most likely to use, and why?

11. Calculate the total amount of under- or overallocated indirect costs for Company XYZ in 2020.

11. Calculate the total amount of under- or overallocated indirect costs for Company XYZ in 2020.

12. Prepare the adjusting journal entry to dispose of the under- or overallocated indirect costs for Company XYZ in 2020 using the writeoff to COGS method. What is the impact of this entry on Company XYZs net operating income?

Use the following data for questions 7 12: Company XYZ makes customized uniforms. It incurs direct materials costs, direct labor costs, and indirect costs. It has a job-costing system with one cost pool for its indirect costs, which are allocated to the products made based on direct labor hours. Company XYZ pays its direct labor at a rate of $17 per direct labor hour. Select data for 2020 is as follows: Budgeted data Actual data Indirect costs $670,140 $627,250 Machine hours 97,000 94,800 Direct labor hours 73,000 65,000 Company XYZ worked on the Key job from August to September of 2020, which used $1,500 in direct materials, 1,300 direct labor hours, and 8,590 machine hours, and consisted of 215 units