Job Cost Flows, Journal Entries On April 1, Sangvikar Company had the following balances in its inventory accounts: Materials Inventory $12,720 Work-in-Process Inventory 21,350 Finished Goods Inventory 8,800 Work-in-process inventory is made up of three jobs with the following costs: Job 114 Job 115 Job 116 Direct materials $2,804 $2,640 $3,650 Direct labor 1,000 1,560 4,300 Applied overhead i 1,080 936 2,580 During April, Sangvikar experienced the transactions listed below. a. Materials purchased on account, $28,000. b. Materials requisitioned: Job 114, $16,500; Job 115, $12,000; and Job 116, $5,000. c. Job tickets were collected and summarized: Job 114, 150 hours at $14 per hour; Job 115, 220 hours at $16 per hour; and Job 116, 80 hours at $18 per hour. d. Overhead is applied on the basis of direct labor cost. e. Actual overhead was $4,543. f. Job 115 was completed and transferred to the finished goods warehouse. 9. (1) Job 115 was shipped, and (2) the customer was billed for 125 percent of the cost. Required: