247 points) Pincus Corporation, which uses a job-costing system, had two jobs in process at the start of 20x1: job no. 59 ($95.000) and job no. 60 ($39,500). The following information is available: - The company applies manufacturing overhead on the basis of machine hours. Budgeted overhead and machine activity for the year were anticipated to be $720.000 and 20,000 hours, respectively. The company worked on three jobs during the first quarter. Direct materials used, direct labor incurred, and machine hours consumed were: Job No. 59 60 61 Direct Materials $18,000 Direct Labor $45,000 25,000 35,000 Machine Hours 900 600 1,200 37,000 Manufacturing overhead during the first quarter included charges for depreciation ($20,000). indirect labor (550,000), indirect materials used ($4.000), and other factory costs ($108.700). - Pincus completed job no. 59 and job no. 60. Job no. 59 was sold for cash, producing a gross profit of $24,600 for the firm. Required: 3. The application of manufacturing overhead to production. 4. The completion of job no. 59 and no. 60. 5. The sale of job no. 59