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AC$2250$ Inc. is a local company who makes ice cubes for the local retail market. On May $1,$ Job $51$ was in process with a cost of $$2,500$ to date. During May; Jobs $52,53,$ and $54$ were started. Data on the costs added during May for all of the jobs are as follows.

$\backslash$table$[[,51,52,53,54],[$Direct materials,$1,500,800,50,500],[$Direct labour,$1,400,1,100,200,400]]$

Overhead is applied at the rate of $50\%$ of direct labour cost. Job $51$ was completed and shipped in March and the client was billed at cost plus $25\%.$ Job $52$ was completed, but unsold in May and the remaining jobs remained in process.

Prepare a job order cost sheet for all of the jobs for the month of May.

Required

$2.$ Calculate the balances in Work$-$in$-$Process, Finished Goods, and Cost of Goods Sold for May.

$3.$ Calculate the price of Job $51.$Calculate the price of Job $51.$

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Job cost order sheet

$\backslash$table$[[,51,52,53,54],[$Beginning Cost,,,,$],[$Direct materials,,,,$],[$Direct labour,,,,$],[$Overhead$,,,,],[$Total Cost,,,,$]]$Required

Prepare a job order cost sheet for all of the jobs for the month of May.

Calculate the balances in Work$-$in$-$Process, Finished Goods, and Cost of Goods Sold for May.

Calculate the price of Job $51.$

$\backslash$table$[[],[3.$ Price$],[],[$Beginning balance$],[],[],[],[]]$B