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Answer each question independently. Required: 1. Milano Company's predetermined overhead rate for manufacturing overhead is $16 per direct labour-hour. The direct labour rate is $20 per hour. If the budgeted direct labour cost was $500,000, what was the budgeted manufacturing overhead? Budgeted manufacturing overhead 2. Zion wants to compute the total cost for preparing a corporate tax return for his cllent. His labour is the only direct cost at $73 per hour. He estimates monthly overhead costs at $8,700 for 174 direct labour-hours. If the tax return requires 12 hours to prepare, what will be the total direct cost, indirect cost, and job cost, respectively? Amount Total direct cost Total Indirect cost Total job cost 3. Cooper Corporation had the following account balances at the end of this year. Direct materials inventory Work in process Finished goods Manufacturing overhead control Cost of goods sold $1,800 1,260 810 130 debit 930 3-1. Assuming that over- or underapplied overhead is written off to cost of goods sold, prepare the appropriate Journal entry. (If no entry is required for a particular transaction, select "No journal entry required" In the first nccount feld.) View transaction list Journal entry worksheet Record entry to close over- or underapplied overhead to cost of goods sold. Note: Enter debits before credits Transaction General Journal Dett Credit Record entry Clear entry View general Journal 3-b. Compute the adjusted balance in the cost of goods account Adjusted balance

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