5), 61 and during march The company is working on the job The data is provided below Beginning Balance Materials Requisitioned Direct Laber Cast 3 $ 620 5 4 5 200 $ Overhead s eda oferect labor cost During manch ob 62 was completed and sold at 125 of cost Los 61 and 64 remaininished at the end of the march Questions 01 What is the meaning of beginning balance for job 627 Why is there no beginning balance for Jobs 63 and 647 02 Set up a simple cost sheet for jobs 62. 63, and 64 Q3 Calculate price and press margin for Job 62 Beginning Balance Materials Requisitioned Direct Labor Cost Applied overheads Total cost 2 620 $ 450 $ 2,500 $1,500,0 $ 9.520 ob 63 - 4,600 $ 1,740 $1,044.0 S 7,384 ob 64 $ $3,000 $ 1,600 S 960.0 S 5460 04 What overhead rate was 80% of direct labor cost? Sales price COGS Gross Margin $11.900.00 $ 9,520 $ 2,180.00