Work in process inventory for Carston Inc. at the beginning of the year was a single job, Job T114:

The company's budgeted costs for the year are as follows:
Budgeted overhead
Variable
Indirect materials ............................$ 68,000
Indirect labor ....................................56,000
Employee benefits ..............................28,000
Fixed
Supervision ......................................13,000
Depreciation ....................................15,000
Total ..........................................$ 180,000
Budgeted direct labor dollars ...............$ 90,000
Rate per direct labor dollar ..................200.00%
The company's actual costs incurred during the year are as follows:

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?

Job # Materials Labor Overhead Total T114 $31,500 $16,250 $28,750 $76,500 Incurred by Jobs Labor Job # T114 T119 T133 T136 Materials S 2,000 24,000 8,000 1,000 $35,000 Total $ 12,000 42,000 42,000 17,000 Other $10,000 18,000 34,000 16,000 $78,000 $113,000 Overhead Indirect materials and supplies Indirect labor Employee benefits Depreciation Supervision 60,000 50,000 50,0003000 5,000 60,000 33,000 12,000 15,000 12000 Total $60,000 $48,000 $170,000