Applying Overhead to Jobs, Costing Jobs Instructions Amount Descriptions Starting Questions Job-Order Cost Sheets Instructions Jagjit Company designs and builds retaining walls for individual customers. On August 1, there were two jobs in process: Job 93 with a beginning balance of $8,840, and Job 94 with a beginning balance of $7,390. Jagjit applies overhead at the rate of S8 per direct labor hour. Direct labor wages average $18 per hour. Data on August costs for all jobs are as follows: Job 93 Job 94 Job 95 Job 96 Direct materials $920 $4,500 $3,290 $1,250 Direct labor cost 2,520 5,220 2,880 1,080 During August, Jobs 95 and 96 were started. Job 93 was completed on August 17, and the client was billed at cost plus 40%. All other jobs remained in process. Instructions Amount Descriptions Starting Questions Job-Order Cost Sheets Instructions During August, Jobs 95 and 96 were started. Job 93 was completed on August 17, and the client was billed at cost plus 40%. All other jobs remained in process. Required: 1. Calculate the number of direct labor hours that were worked on each job in August. 2. Calculate the overhead applied to each job during the month of August. 3. Prepare job-order cost sheets for each job as of the end of August. 4. Calculate the balance in Work in Process on August 31 5. What is the price of Job 93? 6. CONCEPTUAL CONNECTION: Partway through the year, Jagjit bought a bulldozer to handle larger jobs. The bulldozer cost $38,200 and is needed for larger commercial jobs. Smaller residential jobs can still be done with the smaller bobcat tractor. How could the bulldozer's cost be applied to only those jobs that need the larger equipment? Starting Questions 1. Calculate the number of direct labor hours that were worked on each job in August. Job 93 Job 94 Job 95 Job 96 DLH DLH DLH DLH 2. Calculate the overhead applied to each job during the month of August. Job 93 $ Job 94$ Job 95 $ Job 96$ Starting Questions Job-Order Cost Sheets 3. Prepare job-order cost sheets for each job as of the end of August. Refer to Amount Descriptions for the exact wording of text items within your job-order cost sheets. All amount cells must have an entry; enter zeros as needed. Jagit Company Job-Order Cost Sheets August 31 ob 93 Job 94 ob 95 ob 96 2 Beginning balance Concluding Questions 4. Calculate the balance in Work in Process on August 31 The work in process balance on August 31 is $ 5. What is the price of Job 93? The price of Job 93 is $ Partway through the year, Jagit bought a bulldozer to handle larger jobs. The bulldozer cost $38,200 and is needed for larger commercial jobs. Smaller residential jobs can still be done with the smaller bobcat tractor