79. The sens 1 OBJECTIVE 34 Exercise 5.12 Predetermined Overhead Rate, Application of Overhead to Jobs Job Cost On April 1. Sangvikar Company had the following balances in its inventory accounts: Materials Inventory $12,730 Work-in-Process Inventory 21,340 Finished Goods Inventory 8,700 Work-in-process inventory is made up of three jobs with the following costs: Job 114 Job 115 Job 116 Direct materials $2,411 $2,640 $3,650 Direct labor 1,800 1,560 4,300 Applied overhead 1,170 1,014 2,795 During April, Sangy a. Materials pun b. Materials regn c. Job tickets were April, Sangvikar experienced the transactions listed below. Materials purchased on account, $29,000. erials requisitioned: Job 114, $16,500; Job 115, $12.200; and Job 116, $5,000. tickets were collected and summarized: Job 114, 150 hours at $12 per hour; Job 115, hours at $14 per hour; and Job 116, 80 hours at $18 per hour. Querhead is applied on the basis of direct labor cost. Actual overhead was $4,415. ob 115 was completed and transferred to the finished goods warehouse. Tob 115 was shipped, and the customer was billed for 125 percent of the cost. 3. Calculate the ending balance of Work in Process as of April 30. 4. Calculate the cost of goods sold for April. 5. Assuming that Sangvikar prices its jobs at cost plus 25 percent, calculate the price of the one job that was sold during April. (Round to the nearest dollar.) . .. ler.unal Entries