Exercise 2-10 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 $6,200 for direct materials, $9,700 for direct labor, and $5,626 for overhead on its job cost sheet. Job W, which is still in process at year-end, shows charges of $3,700 for direct materials and $5,100 for direct labor. Required: 1a. Should any overhead cost be applied to Job Wat year-end? Yes 1b. How much overhead cost should be applied to Job W? Overhead cost Overhead cost C 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? Raw Materials Work-in-Process O Finished Goods