Following is information about consulting jobs for a company

that is increasing in sales, but has not yet become profitable. The

owner keeps financial records on yellow sticky notes stuck to the

wall behind his desk. He has asked you to help him set up a costing

system so that he can better understand his costs. The owner said

that job $140$ was completed, job $141$ was started and completed, and

job $142$ was started this month. Professional labour hours for

contracts in process consist of job $140$ with $113$hours$,$ job

$141$ with $244$hours$,$ and job $142$ with $132$hours$.$

Professional labour was paid $$24,450$for the month, and the

professional employees are all paid the same rate per hour.

Overhead is allocated using an estimated rate based on professional

labour hours. The total cost for job $141$ is $$31,720.$ Actual

overhead cost for the month was $$50,367.$overappliedunderapplied