Job order cost sheets show the following costs assigned to each job for the month of June:

The company assigns overhead at twice the direct labor cost. Job 131 was completed, but unsold. Job 132 was 60% completed and Job 133 was completed and sold. Required: a) What is the total cost for each job as at the end of June? (3 marks) b) What are the balances in the work in process inventory, finished goods inventory, and cost of goods sold for June? (1.5 marks) c) At a recent meeting, one of the managers stated: 'The production cost report adds no value to my department since it reports on past costs'. Write your response to this statement.