Briefly explain how the firm can dispose of under- or overallocated overhead costs.

Assignment instructions in attachment with detail. Below are the assignment questions. Question #4 requires 1-2 page response.

1. Prepare an overview diagram of the job-costing system at the SRS Educational Press.
2. Prepare journal entries to summarize the 2017 transactions. As your final entry, dispose
of the year-end under- or overallocated manufacturing overhead as a write-off to cost of
goods sold. Number your entries. Explanations for each entry may be omitted.
3. Show posted T-accounts for all inventories, Cost of Goods Sold, Manufacturing
Overhead Control, and Manufacturing Overhead Allocated.
4. How did the SRS Educational Press perform in 2017? Should the company continue to
have in-house press production? Did SRS accurately budget for
manufacturing overhead costs? Support your answers with relevant data. Also, briefly explain how the firm can dispose of under- or overallocated overhead
costs. Name at least two other products that you are familiar with that would benefit from job order costing, and briefly explain how they would benefit.

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