Please explain proper steps by Step and Do Not Give Solution In Image Format ? And Fast Answering Please ? Hyde Restorations rebuilds factory facilities. It employs 130 full-time workers at $25 per hour. Despite operating at capacity, last year'sperformance was a great disappointment to the managers. In total, nine jobs were accepted and completed, Incurring the followingtotal costs:Direct materialsDirect laborManufacturing overheadOf the $1,169,920 manufacturing overhead, 25 percent was variable overhead and 75 percent was fixed.This year, Hyde expects to operate at the same activity level as last year, and overhead costs and the wage rate are not expected tochange. For the first quarter of this year. Hyde Restorations completed two jobs and was beginning the third (Job 13). The costsIncurred follow:Job 11Job 12Job 13Total manufacturing overheadTotal marketing and administrative costsJob 11Job 12Job 13.Actual ManufacturingOverheadYou are a consultant associated with Conway & Company, which has been hired by Hyde to analyze the profitability issue. Themanaging partner on the engagement has reviewed the accounts at Hyde and suggests you start by classifying the overhead intofixed and variable components for each of the jobs. With the help of the Hyde supervisors on each of the jobs, you arrive at thefollowing split.Variable$ 1,224,2004,570,0001,169,920$ 37,28034,4006,920$ 78,600Fixed$ 126,200107,24021,800$ 255,240In the first quarter of this year, 30 percent of marketing and administrative cost was variable and 70 percent was fixed. You are told thatJobs 11 and 12 were sold for $1,118,000 and $718,000, respectively. All over- or underapplied overhead for the quarter is written off toCost of Goods Sold.Required A Required BRequired:a. Present in T-accounts the actual manufacturing cost flows for the three jobs in the first quarter of this year.b. Using last year's overhead costs and direct labor-hours as this year's estimate, calculate predetermined overhead rates per directlabor-hour for variable and fixed overhead.DirectMaterials.$ 179,768122,300123,600c. Present in T-accounts the normal manufacturing cost flows for the three jobs in the first quarter of this year. Use the overhead ratesderived in requirement (b).d. Calculate operating profit (loss) for the first quarter of this year under actual and normal costing systems.Variable overhead rateFixed overhead rateDirect Labor$ 619,500397,500254,000326,840158, 200Complete this question by entering your answers in the tabs below.Required C Required DUsing last year's overhead costs and direct labor-hours as this year's estimate, calculate predetermined overhead rates perdirect labor-hour for variable and fixed overhead.Note: Round your answers to 2 decimal places. Use the rounded values in the subsequent requirements.PredeterminedOverhead Rate(per Direct Labor-Hour)< Required ARequired C >

Name: Please explain proper steps by Step and Do Not Give Solution In Image
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Description: Please explain proper steps by Step and Do Not Give Solution In Image Format ? And Fast Answering Please ? Hyde Restorations rebuilds factory facilities. It employs 130 full-time workers at $25 per hour. Despite operating at capacity, last year'sperf

A T-account is a log or list of accounts that keep track of account transfers.

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Hyde Restorations rebuilds factory facilities. It employs 130 full-time workers at $25 per hour. Despite operating at capacity, last year's performance was a great disappointment to the managers. In total, nine jobs were accepted and completed, incurring the following total costs: Direct materials. Direct labor Manufacturing overhead Of the $1,169,920 manufacturing overhead, 25 percent was variable overhead and 75 percent was fixed. This year, Hyde expects to operate at the same activity level as last year, and overhead costs and the wage rate are not expected to change. For the first quarter of this year. Hyde Restorations completed two jobs and was beginning the third (Job 13). The costs Incurred follow: Job 11 Job 12 Job 13 Total manufacturing overhead Total marketing and administrative costs Job 11 Job 12 Job 13 $ 1,224, 200 4,570,000 1,169,920 Actual Manufacturing Overhead You are a consultant associated with Conway & Company, which has been hired by Hyde to analyze the profitability issue. The managing partner on the engagement has reviewed the accounts at Hyde and suggests you start by classifying the overhead into fixed and variable components for each of the jobs. With the help of the Hyde supervisors on each of the jobs, you arrive at the following split. Variable $ 37,280 34,400 6,920 $ 78,600 Direct Materials $ 179,760 122,300 123,600 Fixed $ 126,200 107,240 21,800 $ 255,240 Direct Labor $ 619,500 397,500 254,000 326,840 158, 200 In the first quarter of this year, 30 percent of marketing and administrative cost was variable and 70 percent was fixed. You are told that Jobs 11 and 12 were sold for $1,118,000 and $718,000, respectively. All over- or underapplied overhead for the quarter is written off to Cost of Goods Sold. Required: a. Present in T-accounts the actual manufacturing cost flows for the three jobs in the first quarter of this year. b. Using last year's overhead costs and direct labor-hours as this year's estimate, calculate predetermined overhead rates per direct labor-hour for variable and fixed overhead. c. Present in T-accounts the normal manufacturing cost flows for the three jobs in the first quarter of this year. Use the overhead rates derived in requirement (b). d. Calculate operating profit (loss) for the first quarter of this year under actual and normal costing systems. Complete this question by entering your answers in the tabs below.