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The Toy Compay uses a job-costing system at its Chicago plant. The plant has a machining department and a finishing department. Toy uses normal costing with two direct-cost categories (direct materials and direct manufacturijng labor) and two manufacturing overhead cost pools (the machining department with direct material costs as the alloation base and finishing department with direct costs as the allocation base.) The 2020 budget for the plant is as follows: Cell referencing answers is required. Machining department Finisghing department Manufacturing overhead cost 9,000,000 4,000,000 Direct materal 140,000 4,000,000 Direct manufacturing labor cost 970,000 4,000,000 Direct manufacturing labor-hour 26,000 160,000 Machin hours 205,000 31.000 What is the budgeted manufacturing overhead rate in the respective depatments Machining department Finisghing department During the month of February, the job-cost record for Job 500 shows the following: Machining department Direct materials used 21,150 Direct labor used 350 Direct labor hours 30 Machine hours 150 Finisghing department 5,000 1,300 50 20 Units produced 500 Prepare the respective journal entries to match cost flows to product flows Units produced 500 Prepare the respective journal entries to match cost flows to product flows Debit Credit Direct material Machining department Finishing department Direct labor Machining department Finishing department Manufacturing overhead Machining department WIP-Job 500. MFO Manufacturing overhead applied Finishing department WIP-Job 500 - MFO Manufacturing overhead applied What is the total product cost for this job? What is the cost per unit

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