Job 39 Job 40 $26.400 392.200 21.200 5600 14.400 Job Costs Using a Fantwide Overhead Rate Naranjo Company designs industrial prototypes for outside companies. Budgeted overhead for the year was 5472,500. and budgeted direct labor hours were 27,000. The average wage rate for direst labor is expected to be $35 per hour. During June, Haranje Company worked on four jobs. Data relating to these fout jobs follow Job 41 Job 42 Beginning balance $19,400 Materiais requisitioned 17.900 Direct labor cost 9,000 5.300 Overhead is assigned as a percentage of trest labor cost. During June 306 39 and 40 were completed: 303 ms solde 120 percent of cont. (Naranjo had originally developed to do to order for a customers however, that customer was near basruptcy and the chance of Naranjo engad was growing commer. Naranjo decided to hold ob 40 an inventory while the customer worked out to financial culties. 105 40 is the only job in Fished Goods tnventory.) 3obs 41 and 43 remain utinished at the end of the month Required: 1. Calculate the balance in Work in Process as of June 30. 15.300 2. Calculate the bwance in Fished Coots of one 39 3. Close the cost of goods sold for one 4. Calculate the price charged for 20 33. Round your answer to the nearest cent. Direct labor cost 9.000 18,300 5.300 Overhead is assigned as a percentage of direct labor cost. During June, Jobs 39 and 40 were completed; Job 3 was sold at 120 percent of cost. (Naranjo had originally developed job do te order for a customer, however that customer was near bankruptcy and the chance of Naranjo being paid was growing dommet. Naranjo decided to hold Job in Inventory while the customer worked out its financial difficulties Job do is the only job in Finished Goods Inventory.) Jobs 41 and 42 remain unfinished at the end of the month. Required: 1. Calculate the balance in Work in Process as of June 30. 2. Calculate the bobice in Finished Goods as of June 30. 9. Calculate the cost of goods sold for sine 10. Round your answer to the nearest cent Finished Goods would increase Finished Goods would decrease Finished Goods would not change was able to pay for the job by Sure 307 what would happen to the balance in Finished Goods? What would happen to the balance of cost of Goods Sold? Direct labor cost 9.000 18.300 4.550 5.300 Overhead is assigned as a percentage of direct labor cost. During June Jobs 39 and 40 were completed: Job 39 was sold at 120 percent of cost, Naranjo had originally developed Job 40 to order for a customer, however that customer was near bankruptcy and the chance of Naranjo being paid was growing dimmer. Naranje decided to hold 30 40 in inventory while the customer worked out its Financial difficulties 30b 40 is the only job to finished Goods Inventory) Jobs 41 and 42 cemain unfinished at the end of the money Requiredi 1. Calculate the balance in work in process as of June 30 2. Calculate the balance in Finished Chiods as of June 30 3. Calculate the cost of goods sokt for ne 4. Calcutite me price charged for 300 39. Round your wiwer to the west cont. was able to pay for the job by rune 30 What would happen to the balance in Finished Conds? Cost of Goods Sold would increase Cost of Goods Sold would decrease Cost of Goods Sald would not change bi Cost of Goods Sald