Job Costs Using a Plantwide Overhead Rate

Naranjo Company designs industrial prototypes for outside companies. Budgeted overhead for the year was $$262,500,$ and budgeted direct labor hours were $21,000.$

average wage rate for direct labor is expected to be $$25$ per hour. During June, Naranjo Company worked on four jobs. Data relating to these four jobs follow:

Overhead is assigned as a percentage of direct labor cost. During June, Jobs $39$ and $40$ were completed; Job $39$ was sold at $120$ 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 difficulties. Job $40$ is the only job in Finished Goods Inventory.$)$ Jobs $41$ and $42$ remain unfinished at

the end of the month.

Required:

Calculate the balance in Work in Process as of June $30.$

$x$

Calculate the balance in Finished Goods as of June $30.$

Calculate the cost of goods sold for June.

Calculate the price charged for Job $39.$ Round your answer to the nearest cent.