HW Chapter 20 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 $5,000 for direct materials, $8,000 for direct labor, and $6,000 for overhead on its job cost sheet. Job W. which is still in process at year-end, shows charges of $2,500 for direct materials and $4,000 for direct labor points Required: ta. Should any overhead cost be applied to Job Wat year-end? (00 Yes O No 1b. How much overhead cost should be applied to Job W? Oroshood cost 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 HW Chapter 20 Savad Current prou, STOW C O 35.UUU IOI Grecim , OUDU 101 Dan UU TO OVE ON HIS JOB COSE See Job W. which is still in process at year-end, shows charges of $2.500 for direct materials and $4,000 for direct labor. Required: ta. Should any overhead cost be applied to Job Wat year end? O Yes O No 1b. How much overhead cost should be applied to Job W? Overhead cost 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? O Raw Materials O Work-in-Process O Finished Goods