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. Use the following information to answer the next two questions Hamilton Company uses job...

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Accounting

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. Use the following information to answer the next two questions Hamilton Company uses job order costing. Factory overhead is applied to production at a predetermined rate of 150% of direct-labour cost. Any over or under-applied factory overhead is closed to the cost of goods sold account at the end of each month. Additional information is available as follows: Job 101 was the only job in process at February 1, 2020, with the following costs incurred during January: $4,000 of DM and $2,000 of DL.3000 Jobs 102, 103, and 104 were started during February goo Toll Direct materials requisitions for February totaled $26,000. Total Direct-labour cost of $20,000 was incurred for February. Total Actual factory overhead was $32,000 for February. 104 The only job still in process at February 28, 2020, was Job 104, with copts of $2,800 for direct materials and $. 7300 All jobs completed are sold during the period. 11. The cost of goods manufactured for February 2020 was: $77,700 $78,000 $79,700 $85,000 . 12. Over or under-applied factory overhead should be closed to CGS at February 28, 2020, in the amount of: (a) $ 700 over-applied (b) $1,000 over-applied (c) $1,700 under-applied (d) $2,000 under-applied

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