Question: Please write out the steps for each, thank you Work-in-Process Inventory for Carston Inc. at the beginning of the year was a single job, Job

Please write out the steps for each, thank you
Work-in-Process Inventory for Carston Inc. at the beginning of the year was a single job, Job T114: Job # T114 Direct Materials Direct Labor $ 41,500 $ 21,250 Overhead $ 33,750 Total $ 96,500 The company's budgeted costs for the year are as follows: $ 78,000 66,000 33,000 Budgeted overhead Variable Indirect materials Indirect labor Employee benefits Fixed Supervision Depreciation Total Budgeted direct labor dollars Rate per direct labor dollar 18,000 20,000 $215,000 $107,500 200% The company's actual costs incurred during the year are as follows: Other $ Job # T114 T119 T133 T136 Incurred by Jobs Materials Labor $ 4,000 $ 12,000 26,000 22,000 10,000 39,000 3,000 19,000 $ 43,000 $ 92,000 Total $ 16,000 48,000 49,000 22,000 $135,000 Incurred by Jobs Labor Other Materials 68,000 58,000 Overhead Indirect materials and supplies Indirect labor Employee benefits Depreciation Supervision Total 40,000 20,000 Total 68,000 58,000 40,000 20,000 15,000 $ 201,000 15,000 $ 73,000 $ 68,000 $ 60,000 Required: 1. What was the actual factory overhead for Carston Inc. for the year? 2. What was overapplied or underapplied overhead for the year? 3. Job T114 was the only job completed and sold in the year. What amount was included in the Cost of Goods Sold account for this job? 4. What was the amount of Work-in-Process Inventory at the end of the year? 1. Total actual overhead 2. 3. Cost of goods sold for job T114 4. Work-in-process inventory
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