At the beginning of the year, Custom Mfg. established its predetermined overhead rate by using the following cost predictions: overhead costs, $840,000, and direct materials costs, $400,000. At year-end, the company’s records show that actual overhead costs for the year are $1,151,500. Actual direct materials cost had been assigned to jobs as follows.

Jobs completed and sold $390,000
Jobs in finished goods inventory 83,000
Jobs in work in process inventory 55,000
Total actual direct materials cost $528,000

Required:
a. Determine the predetermined overhead rate.
b. Enter the overhead costs incurred and the amounts applied to jobs during the year using the predetermined overhead rate and determine whether overhead is overapplied or underapplied.
c. Prepare the adjusting entry to allocate any over- or underapplied overhead to Cost of Goods Sold.

The following account balances at the beginning of january were selected from the general ledger of fresh bagel manufacturing​ company: work in process inventory ​$0 raw materials inventory $ 29 comma 000 finished goods inventory $ 40 comma 900 additional​ data: 1. actual manufacturing overhead for january amounted to $ 62 comma 600. 2. total direct labor cost for january was $ 63 comma 600. 3. the predetermined manufacturing overhead rate is based on direct labor cost. the budget for the year called for $ 255 comma 000 of direct labor cost and $ 382 comma 500 of manufacturing overhead costs. 4. the only job unfinished on january 31 was job no.​ 151, for which total direct labor charges were $ 5 comma 700 ​(1 comma 000 direct labor​ hours) and total direct material charges were $ 14 comma 400. 5. cost of direct materials placed in production during january totaled $ 123 comma 300. there were no indirect material requisitions during january. 6. january 31 balance in raw materials inventory was $ 35 comma 200. 7. finished goods inventory balance on january 31 was $ 35 comma 400. what is the cost of goods manufactured for​ january

Atrough in the business cycle occurs when

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