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ANQ Corporation started operations this year. As the year went on, they compiled the following information on jobs worked (these are the only jobs for
ANQ Corporation started operations this year. As the year went on, they compiled the following information on jobs worked (these are the only jobs for the year): 309 27 Direct Job# Direct Labor Labor hours Job Status Sales Price Materials when sold $2,831 $1,982 49 Not Complete $11.702 310 $1,984 $1,369 34 Complete and not sold $8,146 311 $1,743 $1,238 30 Not Complete $7,232 312 $1,498 $1,169 Complete and sold $6,478 ANQ Corporation determined at the beginning of the year that $23 per Labor hour would be an appropriate POHR. As it turns out, throughout the year, overhead incurred totaled $3.575. Over or Under applied overhead is always considered to be immaterial and necessary steps should be taken to close the Overhead account prior to answering the questions below. Make the necessary calculations to determine the following items for the year just ended (round to the nearest whole dollar/input code: 0): Ending balance of Work in process account $ Ending balance of Finished goods account $ $ Ending balance of Overhead account after closing overhead $ Total Sales $ Total Cost of goods sold after closing overhead $ Gross profit as reported on the Income Statement $ Over/Underapplied overhead (enter overapplied as a positive number and underapplied as a negative number) $ A
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