Jagjit Company designs and builds retaining walls for individual customers. On August 1, there were two jobs in process: Job 93 with a beginning balance of $8,770, and Job 94 with a beginning balance of $7,300. Jagjit applies overhead at the rate of $10 per direct labor hour. Direct labor wages average $17 per hour. Data on August costs for all jobs are as follows: Job 93 Job 94 Job 95 Job 96 Direct materials $990 $4,530 $3,300 $1,280 Direct labor cost 2,380 5,100 2,550 1,020 During August, Jobs 95 and 96 were started. Job 93 was completed on August 17, and the client was billed at cost plus 40%. All other jobs remained in process Required: 1. Calculate the number of direct labor hours that were worked on each Job in August 2. Calculate the overhead applied to each job during the month of August. 3. Prepare job-order cost sheets for each job as of the end of August 4. Calculate the balance in Work in Process on August 31. 5. What is the price of Job 93? 6. CONCEPTUAL CONNECTION: Partway through the year, Jagit bought a bulldozer to handle farger jobs. The bulldozer cost $35,300 and is needed for larger commercial jobs. Smaller residential jobs can still be done with the smaller bobcat tractor. How could the bulldozer's cost be applied to only those jobs that need the larger equipment? Amount Descriptions Refer to the list below for the exact wording of text items within your job-order cost sheets. Amount Descriptions Applied overhead Beginning balance Direct labor Direct materials Total Starting Questions 1. Calculate the number of direct labor hours that were worked on each job in August Job 93 DLH Job 94 DLH Job 95 DLH Job 96 DLH 2. Calculate the overhead applied to each job during the month of August. Job 93 IS Job 94 $ Job 95 Job 96 S Job-Order Cost Sheets 3. Prepare job-order cost sheets for each job as of the end of August. 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. Jagjit Company Job-Order Cost Sheets August 31 1 Job 93 Job 94 Job 95 Job 96 2 Beginning balance 3 4 5 Concluding Questions 4. Calculate the balance in Work in Process on August 31. The work in process balance on August 31 is $ 5. What is the price of JOD 83? The price of Job 93 is Partway through the year, Jagit bought a bulldozer to handle larger jobs. The bulldozer cost $35,300 and is needed for larger commercial jobs. Smaller residential jobs can still be done with the smaller bobcat tractor. 6. CONCEPTUAL CONNECTION: Complete the statement below that outlines how the bulldozer's cost could be applied to only those jobs that nood the larger equipment. Create a separate for the acquisition and use of the bulldozer. Treat the bulldozer's depreciation, fuel, maintenance, etc. as Divide this by the anticipated annual hours of use to arrive at the