Job Costing

At the beginning of June, Galway Company had two jobs in process, Job $78$ and Job $79,$ with the following estimated cost information $($Reference $A$ to the right$).$ During June, two more jobs $(80$&$81)$ were started. The following actual direct materials and actual direct labor costs were updated for the four jobs during the month of June $($Reference B to the right$).$

At the end of June, Jobs $78,79,$ and $80$ were completed. Only job $79$ was sold. Assume that on June $1,$ the balance in Finished Goods was zero.

Based on the direct labor cost, calculate the predetermined overhead rate.

Prepare a simple job$-$order cost sheet for all four jobs for the month of June.

Identify which jobs are accounted for in Work in Process and Finished Goods and calculate the ending balance of each.

$\backslash$table$[[$Reference A$,$Job $78,$Job $79],[$Direct Materials,$$1,000\mathrm{.}00,$$$800\mathrm{.}00$