OProblem 5-46 Overhead Application and Job-Order Costing OBJECTIVE 2 4 Heurion Company is a job-order costing firm that uses a plantwide overhead rate based on direct labor hours. Estimated information for the year is as follows Overhead Direct labor hours $789,000 100,000 Heurion worked on five jobs in July. Data are as follows: Job 741 Job 742 Job 743 Job 745 Job 744 SO S13,600 Balance, July I Direct materials Direct labor cost Direct labor hours $29,870 $25,500 $61,300 4,000 S55,215 S39,800 S48, 500 3,400 $27,880 S14,450 $28,700 1,980 SO $8,420 24,500 $21,300 1,400 1600 By July 31, Jobs 741 and 743 were completed and sold. The remaining jobs were in process Required 1. Calculate the plantwide overhead rate for Heurion Company. (Note: Round to the nearest cent. 2. Prepare job-order cost sheets for each job showing all costs through July 31. (Note: Round all amounts to the nearest dollar.) Answer Check figure: Total cost Job 741- $148,230 3. Calculate the balance in Work in Process on July 31. 4. Calculate Cost of Goods Sold for July Answer Check figure: Cost of goods sold $234,882