I need to input the formula in excel correctly to get credit for the assignment. I am not sure what I am doing wrong. What would the correct excel formula be? I also tried =B7*.60

1 2 A company that uses job order costing reports the costs incurred below. Overhead is applied at the rate of 60% 3 of direct materials cost. The company has no beginning Work in Process or Finished Goods inventories. Jobs 1 and 3 are not finished by the end of the month, and Job 2 is finished but not sold by month-end \begin{tabular}{|l|r|r|r|r|r|} \hline & & & Overhead rate & 60% \\ \hline & Job 1 & Job 2 & Job 3 & \\ \hline Direct materials used & $5,000 & $7,000 & $1,500 & \\ \hline Direct labor used & $9,000 & $4,000 & $3,000 & \\ \hline \end{tabular} Required: 1. Prepare job cost sheets that have direct materials, direct labor, and overhead applied for each of the three jobs for the mo (Use cells A2 to G8 from the given information to complete this question.) 2. Determine the total dollar amount of Work in Process Inventory at the end of the month