Job Costs Using a Plantwide Overhead Rate Naranjo Company designs Industrial prototypes for outside companies. Budgeted overhead for the year was $150,000, and budgeted direct tabor nours were 15,000. The average wage rate for direct labor is expected to be $20 per hour. During June, Naranjo company worked on Pour jobs. Dats relating to these four jobs follow: Job 39 Job 40 Job 41 Job 42 Beginning balance $22,600 $32,200 $18,100 $300 Materials requisitioned 16,700 20,600 13,400 13,400 Direct labor cost 7,800 17,700 8,050 4,300 Overhead is assigned as a percentage of direct labor cost. During June, Jobs 39 and 40 were completed; Job 39 was sold at 115 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 Naranjo decided to hold Job 40 in Inventory while the customer worked out its financial airculties. Job 40 is the only job in Finished Goods Inventary) Jobs 41 and 42 remain unfinished at the end of the month. 1. Calculate the balance in Work in Process as of June 30. 2. Calculate the balance in Finished Goods as of June 30. 3. Calculate the cost of goods sold for June