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B. Materials requisitions and time tickets for October were as follows: Job Taylor's Broche Wu's Necklace Lopez's Ring Koto's Broche Material Requisitions $2,000 $5,000 $2,000 $8,000 $17,000 $200 $17,200 Time Tickets $3,000 $1,000 $2,000 $1,500 $7,500 $500 $8,000 General use (*Idle time, cleaning & maintenance, indirect materials, etc.) C. Estimated factory overhead for the year was $50,000 and overhead is applied based on direct labor dollars (estimated at $100,000 for the year). Use this information to calculate predetermined overhead rate and to apply manufacturing overhead to the jobs. D. Taylor's broche and Wu's necklace were completed and cash of $50,000 & $90,000 was received. Required: 1. Calculate the cost for each job 2. Journalize the transactions and events A-D. 3. What journal entry would be required to close out manufacturing overhead? Was it over or under applied? B. Materials requisitions and time tickets for October were as follows: Job Taylor's Broche Wu's Necklace Lopez's Ring Koto's Broche Material Requisitions $2,000 $5,000 $2,000 $8,000 $17,000 $200 $17,200 Time Tickets $3,000 $1,000 $2,000 $1,500 $7,500 $500 $8,000 General use (*Idle time, cleaning & maintenance, indirect materials, etc.) C. Estimated factory overhead for the year was $50,000 and overhead is applied based on direct labor dollars (estimated at $100,000 for the year). Use this information to calculate predetermined overhead rate and to apply manufacturing overhead to the jobs. D. Taylor's broche and Wu's necklace were completed and cash of $50,000 & $90,000 was received. Required: 1. Calculate the cost for each job 2. Journalize the transactions and events A-D. 3. What journal entry would be required to close out manufacturing overhead? Was it over or under applied

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