Powell company uses a job costing system. during the month of may, powell spent most of its time on job a50, which was started late in april. following is cost information for job a50, other may costs, and relevant annual estimates. materials issued: 80% for direct use on job a50 and 20% for indirect use through may $ 6,000 labor: direct labor for job a50 (300 dlh @ $20 per dlh) 6,000 indirect labor for may 310 other may costs: depreciation (30% factory and 70% administrative) 1,000 other (70% factory and 30% administrative) 700 overhead cost driver: direct labor hours (dlh) estimated annual overhead 21,000 estimated annual dlh 3,000 markup-as a percent of cost 40 % required: (1) what is the overhead to be applied for may to job a50 upon completion on may 15? (2) what are total manufacturing costs for may for job a50? (3) prepare the journal entry when job a50 is completed on may 15, assuming that the may 1 work-in-process inventory for job a50 was $600. (4) what is the profit on job a50 when it is sold on may 15? (5) calculate the under- or over-applied overhead for may.

Kiona co. set up a petty cash fund for payments of small amounts. the following transactions involving the petty cash fund occurred in may (the last month of the company's fiscal year). may 1 prepared a company check for $350 to establish the petty cash fund. 15 prepared a company check to replenish the fund for the following expenditures made since may 1. a. paid $109.20 for janitorial services. b. paid $89.15 for miscellaneous expenses. c. paid postage expenses of $60.90. d. paid $80.01 to the county gazette (the local newspaper) for an advertisement. e. counted $26.84 remaining in the petty cashbox. 16 prepared a company check for $200 to increase the fund to $550. 31 the petty cashier reports that $380.27 cash remains in the fund. a company check is drawn to replenish the fund for the following expenditures made since may 15. f. paid postage expenses of $59.10. g. reimbursed the office manager for business mileage, $47.05. h. paid $48.58 to deliver merchandise to a customer, terms fob destination. 31 the company decides that the may 16 increase in the fund was too large. it reduces the fund by $50, leaving a total of $500.