5-24 Job costing, unit cost, ending work in process Raymond Ltd produces pipes for concertquality organs. Each job is unique. In April 2014, it completed all outstanding orders, and then, in May 2014, it worked on only two jobs, M1 and M2: Ra ond Ltd, Ma 2014 Job M1 Job M2 $75,000 $50,000 Direct manufacturin labour 275,000 200,000 Direct manufacturing labour is paid at the rate of $50 per hour. Manufacturing overhead costs are allocated at a budgeted rate of $55 per direct manufacturing labour-hour. Only job M1 was completed in May. Required 1. Calculate the total cost for job M1. Thirteen hundred pipes were produced for job M1. Calculate the cost per pipe. Prepare the journal entry transferring job M1 to Finished goods. What is the ending balance in the Work-in-process control account? Pam!\