Alpha Company applies overhead costs to jobs on the basis of direct labor costs, Job A, which was started and completed during the current period, shows charges of $10,000 for direct materials, $16,000 for direct labor, and $12,000 for overhead on its job cost sheet. Job B, which was still in process at year end, shows charges of $5,000 for direct materials and $8,000 for direct labor. Required: 1. (5 pts.) Should any overhead cost be applied to Job B at year end? If so, how much? Explain briefly.

2. (5 pts.) How will the costs included in Job Bs job cost sheet be reported within Alpha Companys financial statements at year end?