Exercise 2-10 (Algo) Applying Overhead Cost to a Job [LO2-2] Sigma Corporation applies overhead cost to jobs on the basis of direct labor cost. Job V, which was started and completed during the current period, shows charges of $5,300 for direct materials, $9,000 for direct labor, and $6,210 for overhead on its job cost sheet. Job W, which is still in process at year-end, shows charges of $2,900 for direct materials and $4,500 for direct labor. Required: 1a. Should any overhead cost be applied to Job W at year-end? 1b. How much overhead cost should be applied to Job W? 2. How will the costs included in Job W's job cost sheet be reported within Sigma Corporation's financial statements at the end of the year? Complete this question by entering your answers in the tabs below. Should any overhead cost be applied to Job W at year-end? Should any overhead cost be applied to Job W at year-end? Exercise 2-10 (Algo) Applying Overhead Cost to a Job [LO2-2] Sigma Corporation applies overhead cost to jobs on the basis of direct labor cost. Job V, which was started and completed during the current period, shows charges of $5,300 for direct materials, $9,000 for direct labor, and $6,210 for overhead on its job cost sheet. Job W, which is still in process at year-end, shows charges of $2,900 for direct materials and $4,500 for direct labor. Required: 1a. Should any overhead cost be applied to Job W at year-end? 1b. How much overhead cost should be applied to Job W? 2. How will the costs included in Job W's job cost sheet be reported within Sigma Corporation's financial statements at the end of the year? Complete this question by entering your answers in the tabs below. How much overhead cost should be applied to Job W? Exercise 2-10 (Algo) Applying Overhead Cost to a Job [LO2-2] Sigma Corporation applies overhead cost to jobs on the basis of direct labor cost. Job V, which was started and completed during the current period, shows charges of $5,300 for direct materials, $9,000 for direct labor, and $6,210 for overhead on its job cost sheet. Job W, which is still in process at year-end, shows charges of $2,900 for direct materials and $4,500 for direct labor. Required: 1a. Should any overhead cost be applied to Job W at year-end? 1b. How much overhead cost should be applied to Job W? 2. How will the costs included in Job W's job cost sheet be reported within Sigma Corporation's financial statements at the end of the year? Complete this question by entering your answers in the tabs below. How will the costs included in Job W's job cost sheet be reported within Sigma Corporation's financial statements at the end of the year
