Naranjo Company designs industral prototypes for outside companies, Budpeted overhead for the year was $260,000, and budgeted direct labor hours were 26,000, The average wage rate for direct labor is expected to be $20 per hour. During lune, Naranjo Company worked on four jobs, Data relating to these four yobs follow: Overhead is assigned as a hercentage of direct labor cost. During June, Jobs 39 and 40 were completed; Job 39 was sold at 115 percent of cost. (Naranjo had onginally 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.) lobs 41 and 42 remain unfinished at the end of the month. Reguiredt 1. Calculate the balance in Work in Process as of lune 30 . 2. Calculate the balance in Fitished Goods as of June 30 . 4. Calculate the price charged for Job 39. Round your answer to the nearest cent. 5. What if the customer for Job 40 was able to pay for the job by June 30 ? What would happen to the balance in Finished Goods? What would happen to the balance of Cost of Goods Sold