K.4.36 Allocating overhead to jobs, costing jobs Jagit Company designs and butlde retaining walts for individual customers. On 1 August, there were two jobs in process: Job 93 with a beginning balance of $8750 and Job 94 with a beginning balance of $7300. Jagjit allocates overhead ot the rate of $8 per direct labour hour. Direct tabour wages average $18 per hour. Data on August costs for all jobs are as follows: During August, Jobs 95 and 96 were started. Job 93 was completed on 17 August, and the cliont was billed at cost plus 40 per cent. All other jobs remained in process. Required: 1 Calculate the number of direct labour hours that were worked on each job in August. 2 Calculate the overhead allocated to each job during the month of August. 3 Prepare job-order cost sheets for each job as of the 4 Calculate the balance in Work in Process on 31 August. 5 What is the price of Job 93? 6 Partway through the year, Jagit bought a bulldozer to handle larger jobs. The bulldozer cost $38000 and is needed for larger commercial jobs. Smaller residential jobs can still be done with the smaller Bobcat tractor. How could the bulldozer's cost be allocated to only those jobs that need the larger