2. Fence Company Fence Company installs fences. In March 2018, the company installed three jobs: Beginning balance Materials requisitioned Direct labor costs Job 62 Job 63 Job 64 $620 $0 $0 $4,900 $4,600 $3,000 $2,500 $1,740 $1,600 Overhead is assigned at the rate of 60% of direct labor cost. During March, Job 62 was completed and sold at 125 percent of cost. Jobs 63 and 64 remain unfinished. (1) What does the beginning balance of Job 62 represent? Why is there no beginning balance for Jobs 63 and 64? (2) Calculate total costs for all three jobs. (3) Calculate the sales price and gross margin for Job 62. (4) What is the ending balance of Work in Process Inventory at March 31? (5) Assume the March 1 balance of Finished Goods Inventory was zero. Calculate the ending balance at March 31.