5-12 Components of Ending Work-in-Process The Oxford Company uses a job order cost system and applies factory overhead to jobs on the basis of direct labor cost. During the month of July, the following activities took place in the work-in-process account: Work-in-Process To finished goods$50,000 Beginning Direct materials Direct labor Overhead applied $15,000 10,000 30,000 15,000 At the end ofJuly, only one job (Job # 15), was still in-process. This job has been charged with $2,000 of direct materials cost Required Determine the amount of direct labor cost incurred and overhead applied in the end- ing inventory of work-in-process on July 31