Following is partial information for Delamunte Industries for the month of August: Work In Process $ 137,000 112,800 162,000 Balance, August 1 Direct materials used Direct labor Manufacturing overhead applied (based on direct labor cost) Jobs finished during August are summarized here: Cost of Jobs Completed Job # 234 237 231 246 $ 60,950 33,800 63,000 23,000 Required: At the end of August, only one job, Job 248, was still in process. The direct labor cost incurred on Job 248 as of August $23,200. 153,000 1. Calculate the predetermined overhead rate that was used to apply manufacturing overhead to jobs during August. 2. Determine the balance in Work in Process at the end of August. 3. Determine how much of the direct materials cost and applied overhead would be recorded for Job 248 as of August Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Calculate the predetermined overhead rate that was used to apply manufacturing overhead to jobs during August. Note: Round your answer to 2 decimal places.

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Payroll Entries

Payroll is a comprehensive record of employees that are paid by the company. Payroll classifies employees into various categories according to their function and pays scale (basic wage, allowance, income tax, other taxes, employee loans, etc.). Payroll processes form the bedrock of every organization as it contains sensitive information on the ‘wage and paycheck’ portion of the company’s strength—its employees. The organization needs to keep a track of the employees currently on the payroll, the net payout for the company, the record of transactions related to the employees including deductions and payroll taxes to identify the liability and its effect on the balance sheet (and other financial statements). Payroll records also include qualitative factors such as the conduct of the employee.