Instructions Applying Overhead to Jobs, Costing Jobs Gorman Company builds internal conveyor equipment to client specifications. On October 1, Job 877 was in process with a cost of $18,640 to date. During October, Jobs 878, 879, and 880 were started. Data on costs added during October for all jobs are as follows: Job 877 Job 878 Job 879 Job 880 Direct materials $14,460 $6,000 $3,500 $1,800 Direct labor 14,800 8,500 ,750 2,150 Overhead is applied to production at the rate of 80% of direct labor cost. Job 77 was completed onOctober 28, and the client as billed at cost plus 50 All other o s mane n process Amount Descriptions 3 Refer to the list below for the exact wording of text items within your job-order cost sheets. Amount Descriptions Beginning balance Direct labor Direct materials Job-Order Cost Sheet 1. Prepare a brief job-order cost sheet showing the October 1 balances of all four jobs, plus the direct materials and direct labor costs during October. There is no need to calculate applied overhead at this point or to total the costs. Refer to Amount Descriptions for the exact wording of text items within your job-order cost sheets. All amount cells must have an entry; enter zeros as needed. Gorman Company Job-Order Cost Sheets For the Month of October ob 877 ob 878 Job 879 Job 880 2 Beginning balance 2. Calculate the overhead applied to each job during October The overhead applied to Job 877 is$ The overhead applied to Job 878 is$ The overhead applied to Job 879 is $ The overhead applied to Job 880 is $ 3. Calculate the balance in Work in Process on October 31. The balance in Work in Process for Job 878 is$ The balance in Work in Process for Job 879 is$ The balance in Work in Process for Job 880 is$ The total balance in Work in Process is $ 4. What is the price of Job 877? The price of Job 877 is S