Creative Web Design uses a job-order costing system to track the costs of its web design projects. The company provides complete website design and hosting services. The following table provides data concerning the three design projects that were in process during May. There was no work in process at the beginning of May:

Actual overhead costs were $3,000 for May. Overhead costs are applied to projects on the basis of designer hours. The predetermined overhead rate is $20 per designer-hour. The Car City and Jan's Flowers projects were completed in May; the Happy Daycare project was not completed by the end of the month. No other jobs were in process during May.

Required:

1. Compute the amount of overhead cost that would have been charged to each project during May.

2. Prepare a journal entry showing the completion of the Car City and Jan's Flowers projects and the transfer of costs to the Completed Projects (i.e., Finished Goods) account. 

3. What is the balance in the Work in Process account at the end of the month?

4. What is the balance in the Overhead account at the end of the month? What is this balance called?

Project Jan's Flowers Happy Daycare Car City Designer-hours . 60 80 20 $ 500 $1,500 $2,000 Direct labour cost