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Pendarvis Company uses a job-order costing system and has the following information for the first week of June: 1. Direct labor and direct materials used:
Pendarvis Company uses a job-order costing system and has the following information for the first week of June: 1. Direct labor and direct materials used: Job No. Direct Material Direct Labor Hours 498 $1,500 116 506 960 16 507 415 18 508 345 42 509 652 24 511 308 10 512 835 30 Total $5,015 256 2. The direct labor wage rate is $4 per hour. 3. The overhead rate is $5 per direct labor hour. 4. Actual overhead costs for the week, $1,480. 5. Jobs completed: Nos. 498, 506, and 509. 6. The factory had no work in process at the beginning of the week. Required: a. Prepare a summary that will show the total cost assigned to each job. b. Compute the amount of overhead over- or underapplied during the week. c. Calculate the cost of the work in process at the end of the week
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