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HNI Corporation started operations this year. As the year went on, they compiled the following information on jobs worked (these are the only jobs for
HNI 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): Direct Direct Job# Labor hours Job Status Sales Price when sold Materials Labor 561 $1,761 30 562 44 $1,198 $1,771 $1,084 $1,175 $2,604 $1,464 $1,958 Not Complete Not Complete Complete and not sold Complete and sold $7,408 $10,936 $6,387 563 26 564 32 $7,855 HNI 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 $2,641. 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 $ 1414 Ending balance of Finished goods account $ 6387 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) $
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