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Hyde Restorations rebuilds factory facilities. It employs $130$ full$-$time workers at $$25$ per hour. Despite operating at capacity, last year's Complete this question by entering your answers in the tabs below.

Required $B$

Present in T$-$accounts the actual manufacturing cost flows for the three jobs in the first quarter of this year. Required A

Using last year's overhead costs and direct labor$-$hours as this year's estimate, calculate predetermined overhead rates per

direct labor$-$hour for variable and fixed overhead.

Note: Round your answers to $2$ decimal places. Use the rounded values in the subsequent requirements. Required A

Present in T$-$accounts the normal manufacturing cost flows for the three jobs in the first quarter of this year. Use the overhead rates derived in requirement $($b$).$

Note: Round your final answers to nearest whole dollar amounts.Answer is not complete.

Complete this question by entering your answers in the tabs below.

Calculate operating profit $($loss$)$ for the first quarter of this year under actual and normal costing systems.

Note:Loss amounts should be indicated with a minus sign.

performance was a great disappointment to the managers. In total, nine jobs were accepted and completed, incurring the following

total costs:

Of the $$1,175,040$ manufacturing overhead, $25$ percent was variable overhead and $75$ percent was fixed.

This year, Hyde expects to operate at the same activity level as last year, and overhead costs and the wage rate are not expected to

change. For the first quarter of this year, Hyde Restorations completed two jobs and was beginning the third $($Job $13).$ The costs

incurred follow:

You are a consultant associated with Conway & Company, which has been hired by Hyde to analyze the profitability issue. The

managing partner on the engagement has reviewed the accounts at Hyde and suggests you start by classifying the overhead into

fixed and variable components for each of the jobs. With the help of the Hyde supervisors on each of the jobs, you arrive at the

following split.

In the first quarter of this year, $30$ percent of marketing and administrative cost was variable and $70$ percent was fixed. You are told that

Jobs $11$ and $12$ were sold for $$1,126,000$ and $$726,000,$ respectively. All over$-$ or underapplied overhead for the quarter is written off to

Cost of Goods Sold.

Required:

a$.$ Present in T$-$accounts the actual manufacturing cost flows for the three jobs in the first quarter of this year.

b$.$ Using last year's overhead costs and direct labor$-$hours as this year's estimate, calculate predetermined overhead rates per direct

labor$-$hour for variable and fixed overhead.

c$.$ Present in T$-$accounts the normal manufacturing cost flows for the three jobs in the first quarter of this year. Use the overhead rates

derived in requirement $(b).$

d$.$ Calculate operating profit $($loss$)$ for the first quarter of this year under actual and normal costing systems.

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