Job Costing Elite Custom Cabinetry Company produces custom cabinet order to exact measure based off CAD drawings provided by kitchen remodeling firms: As of June 1, there was one order in production (job 5-3) and two new jobs were started in June (jobs 6-1 and 6-2). Job 5-3 had incurred costs as follows prior to the month of June: direct material $4,600; direct labor $6,550, overhead $3,400 There were no finished goods as orders ship out upon completion. Raw material inventory was $18,600 as of June 1. The following events occurred during June: 1. Purchased additional raw materials of $20,000. 2. Incurred direct labor hours of 640 hours at a rate of $24.00 during the month of June. 3. Incurred total manufacturing overhead costs of $18,400 during the month of June. 4. Assigned Direct materials and direct labor hours to jobs as follows: Actual Materials Hours Job 5-3 2,300 112 Job 6-1 8,700 320 Job 6-2 5,420 208 Totals 16,420 640 5. The company uses direct labor hours to assign overhead to individual jobs, and the predetermined overhead rate is $28.00 per hour, based on the budget of 600 labor hours per month. 6. Jobs 5-3 and 6-1 are completed and shipped in the month of June. Job 6-2 is in progress at month end. A. Calculate the completed cost of jobs 5-3 and 6-1. B. Calculate the cost of work in process (job 6-2). C. Calculate over or under applied overhead for hours worked and rate per hour. D. Calculate the actual overhead rate per hour. Job 5-3 Work in Process Additional materials Additional direct labor Additional overhead applied Total cost of completed job - Job 6-1 Direct materials Direct labor Overhead applied Total cost of completed job - Job 6-2 Direct materials Direct labor Overhead applied Total cost of work in process - Total overhead incurred Total overhead applied #VALUE! Under applied overhead #VALUE! Actual overhead rate: Total actual overhead cost Total hours direct labor Cost per direct labor hour #VALUE!