a. What was the amount in the beginning Work-in-Process accounts for year 3?b. O'Leary incurred direct materials cost of $57000 and used an additional 300 hours in year 3 to complete job MC-275. What was the final (total) cost charged to job MC-275?c. What was over- or underapplied overhead for year 3? (answer should indicated over- or underapplied) O'Leary Corporation manufactures special purpose portable structures (huts, mobile of-fices, and so on) for use at construction sites. It only builds to order (each unit is builtto customer specifications). O'Leary uses a normal job costing system. Direct labor atO'Leary is paid $17 per hour, but the employees are not paid if they are not working onjobs. Manufacturing overhead is assigned to jobs by a predetermined rate on the basisof direct labor-hours. The company incurred manufacturing overhead costs during tworecent years (adjusted for price-level changes using current prices and wage rates) asfollows:Year 1Year 2Direct labor-hours worked69,00054,000Manufacturing overhead costs incurredIndirect labor$2,760,000$2,160,000Employee benefitsSupplies..Power...Heat and light.SupervisionDepreciation.Property taxes and insuranceTotal manufacturing overhead costs...1,035,000690,000552,000138,000716,250810,000540,000522,000138,000656,2501,982,500751,2501,982,500751,250$8,625,000$7,560,000At the beginning of year 3, O'Leary has two jobs, which have not yet been delivered tocustomers. Job MC-270 was completed on December 27, year 2. It is scheduled to ship onJanuary 7, year 3. Job MC-275 is still in progress. The predetermined rate in year 2 was $130per direct labor-hour. Data on direct material costs and direct labor-hours for these jobs inyear 2 follow:Job MC-270Job MC-275Direct material costsDirect labor-hours...$270,0002,500 hours$495,0003,200 hoursDuring year 3, O’Leary incurred the following direct material costs and direct labor-hours for all jobs worked in year 3, including the completion of Job MC-275:Direct material costsDirect labor-hours...Actual manufacturing overhead.$11,840,00074,000$9,120,000For the purpose of computing the predetermined overhead rate, O'Leary uses the previousyear's actual overhead rate. At the end of year 3, there were four jobs that had not yet shipped.Data on these jobs follow:MC-389МС-390MC-397МС-399Direct materials.$43,2001,740 hoursFinished$67,0002,700 hoursFinished$103,500$28,9001,300 hoursIn progressDirect labor-hours6,100 hoursJob statusIn progress

Name: a. What was the amount in the beginning Work-in-Process accounts for y
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Description: a. What was the amount in the beginning Work-in-Process accounts for year 3?b. O'Leary incurred direct materials cost of $57000 and used an additional 300 hours in year 3 to complete job MC-275. What was the final (total) cost charged to job MC-275?c

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O'Leary Corporation manufactures special purpose portable structures (huts, mobile of- fices, and so on) for use at construction sites. It only builds to order (each unit is built to customer specifications). O'Leary uses a normal job costing system. Direct labor at O'Leary is paid $17 per hour, but the employees are not paid if they are not working on jobs. Manufacturing overhead is assigned to jobs by a predetermined rate on the basis of direct labor-hours. The company incurred manufacturing overhead costs during two recent years (adjusted for price-level changes using current prices and wage rates) as follows: Year 1 Year 2 Direct labor-hours worked 69,000 54,000 Manufacturing overhead costs incurred Indirect labor . Employee benefits Supplies. Power. $2,760,000 1,035,000 690,000 552,000 138,000 716,250 $2,160,000 810,000 540,000 522,000 138,000 656,250 1,982,500 751,250 Heat and light. Supervision Depreciation.. Property taxes and insurance Total manufacturing overhead costs. 1,982,500 751,250 $8,625,000 $7,560,000 At the beginning of year 3, O'Leary has two jobs, which have not yet been delivered to customers. Job MC-270 was completed on December 27, year 2. It is scheduled to ship on January 7, year 3. Job MC-275 is still in progress. The predetermined rate in year 2 was $130 per direct labor-hour. Data on direct material costs and direct labor-hours for these jobs in year 2 follow: Job MC-270 Job MC-275 $495,000 3,200 hours Direct material costs $270,000 2,500 hours Direct labor-hours... During year 3, O'Leary incurred the following direct material costs and direct labor- hours for all jobs worked in year 3, including the completion of Job MC-275: $11,840,000 74,000 $9,120,000 Direct material costs Direct labor-hours.. Actual manufacturing overhead For the purpose of computing the predetermined overhead rate, O'Leary uses the previous year's actual overhead rate. At the end of year 3, there were four jobs that had not yet shipped. Data on these jobs follow: MC-389 MC-390 МС-397 МС-399 Direct materials. $67,000 2,700 hours Finished $103,500 $43,200 1,740 hours Finished $28,900 1,300 hours In progress Direct labor-hours 6,100 hours Job status . In progress