Job Amount 204 $26,844 3,355.5 205 22,750 3,250.0 206 28,920 3,615.0 207 20,370 2,910.0 (d) Materials issued: Job 204. Job 205. Job 206. Job 207. $9,480 11,320 10,490 16,640" "Excluding $5,800 of special materials, which are also issued at this time. (e) Other factory overhead incurred or accrued (for brevity, credit the entire amount to Various Credits): Insurance on Factory. Tax on Real Estate.. Depreciation-Machinery.......... Depreciation-Factory Building. Light Coal Used.. Power...... Repairs and Maintenance. $ 830.00 845.00 780.00 840.00 560.00 1,810.00 3,390.00 2,240.00 1,910.00 15,256.87 Indirect Supplies. Miscellaneous. (f) Factory overhead is applied at the rate of $2.30 per direct labor hour. An applied fac- tory overhead account is used and is then closed to the overhead control account. (g) Job 204 was shipped and billed at a contract price of $117,500. Required: (1) Construct ledger accounts, inserting beginning balances and entering transactions for March. (Factory overhead incurred is to be posted to the control account only.) (2) In itemized form, compute the total cost of each job at the end of March. (3) Determine the amount of over- or underapplied factory overhead remaining in the overhead control account. P5-8 Job Order Cost Cycle; General and Subsidiary Lodgers; Cost of Goods Sold Statement. On January 1, the general lad P5-7 Ledger Accounts Covering Cost Accounting Cycle and Job Order Cost Accumulation. The books of Torrent Company show the following accouni balances as of March 1: Finished Goods.. Work in Process. Materials Over- or Underapplied Factory Overhead... $ 78,830 292,621 66,300 12,300 (Cr.) The work in process account is supported by the following job order cost sheets: Job Item Direct Materials Direct Labor Factory Overhead Total 204 80,000 Balloons $ 15,230 $ 21,430 $13,800 $ 50,460 205 5,000 Life rafts 40,450 55,240 22,370 118,060 206 10,000 Life belts 60,875 43,860 19,366 124,101 $116,555 $120,530 $55,536 $292,621 During March, the following transactions occurred: (a) Purchase of materials, $41,000. (b) Purchase of special materials was $5,800 for new Job 207, which calls for 4,000 life jackets. (c) Indirect labor cost was $12,480. Direct labor was as follows: