5410 II. Calculation of Work in Process and Cost of Goods Sold with n5 Multiple Jobs Kennedy Kitchen and Bath (KKB) Company designs and installs upscale kitchens and bath- rooms. On May I there were three jobs in process, Jobs 77.78 and 79. During May, two more jobs were started. Jobs 80 and 81. By May 31. Jobs 77.78. and 80 were completed. The following data were gathered Job 77 Job 79 Job 80 jobsr May balance soso Direct materials 2.750 Direct labor 1.300 Overhead is applied at the rate of 150% of direct labor cost. Jobs are sold at cost plus 30%. Operating expenses for May totaled $2.700. Required: 1. Prepare job-order cost sheets for each job as of May 31. 2. Calculate the ending balance in Work in Proces (as of May 31) and Cost of Goods Sold 3. Construct an income statement for KKB for the month of May. 5875 690 450 Job 78 S1,140 320 420 500 500 1.800 80 for May