4.7 A company has the following transactions during the week.

• Purchase of $1,000 raw materials inventory

• Assignment of $500 of raw materials inventory to Job 5

• Payroll for 20 hours with $1,000 assigned to Job 5

• Factory utility bills of $750

• Overhead applied at the rate of $10 per hour What is the cost assigned to Job 5 at the end of the week?