McGraw Hill Excel Question - Saved Search (Option + Q) File Home Insert Draw Formulas Data Review View Help Editing v Comments 5 v v 11 v By M Av ... ab Number [v ATV OV ... D19 " X V . B E F McGraw Hill A company that uses job order costing reports the costs incurred below. Overhead is applied at the rate of 60% of direct materials cost. The company has no beginning Work in Process or Finished Goods inventories. Check Answers Jobs 1 and 3 are not finished by the end of the month, and Job 2 is finished but not sold by month-end Overhead rate Check My Work Job 1 Job 2 Job 3 Direct materials used $5,000 $7,000 $1,500 Direct labor used $9,000 $4,000 $3,000 Legend Graded cell: Leave blank if no answer is 10 Required: needed. 11 1. Prepare job cost sheets that have direct materials, direct labor, and overhead applied for each of the three jobs f 12 Scratchpad: Use as a non-graded 13 (Use cells A2 to G8 from the given information to complete this question.) workspace 14 15 JOB COST SHEET 16 Job 1 Job 2 Job 3 17 Direct materials $5,00 $7,00 $1,500 18 Direct labor 9,000 4,000 3,000 19 Overhead 20 Total $14,000 $11,000 $4,500 21 22 2. Determine the total dollar amount of Work in Process Inventory at the end of the month. 23 24 (Use cells A2 to G8 from the given information to complete this question.) 25 26 Work in process inventory $29,500 27 28 3. Determine the total dollar amount of Finished Goods Inventory at the end of the month. 29 30 (Use cells A2 to G8 from the given information to complete this question.) 31 32 Finished goods inventory $11,000 33 34 35 36 37 38 39 ABBAS 46 47 48 Graded Worksheet + Save and Return to Assignment E Calculation Mode: Automatic Workbook Statistics Give Feedback to Microsoft - 100% +