Plainview Paving Contractors (PPC) is a rapidly growing, recently established company that has not been profitable despite increases in sales. It has hired you as a consultant to find ways to improve profitability. You believe that the problem results from poor cost control and inaccurate cost estimation on jobs. The company has essentially no accounting system from which to collect data. You are able, however, to piece together the following information for April: Production 1. Completed Job 33. 2. Started and completed Job 41. 3. Started Job 42. Inventory Values Work-in-process inventory (excluding applied overhead): March 31: Job 33 Direct materials Labor (890 hours $36) April 30: Job 42 $ 7,440 32,040 Direct materials Labor (960 hours $36) $ 6,200 34,560 Job 33 was exactly 60 percent complete as to labor on March 31. Job 42 was exactly 40 percent complete as to labor on April 30. All direct materials necessary to do the entire job were charged to each job as soon as it was started. There were no direct materials inventories or finished goods inventories at either March 31 or April 30. Actual overhead was $115,680. Cost of goods sold (before adjustment for over- or underapplied overhead): Job 33 Materials Labor Overhead Total Job 41 Materials $7,440 7 7 $108,900 Job 33 Materials Labor Overhead Total Job 41 Materials Labor Overhead ? 2 2 2 $ 7,440 ? 2 $ 108,900 Total Overhead was applied to jobs using a predetermined rate per labor dollar that has been used since the company began operations. All direct materials were purchased for cash and charged directly to Work-in-Process Inventory when purchased. Direct materials purchased in April amounted to $17,040. Direct labor costs charged to jobs in April were $119,200. All labor costs were the same per hour for all laborers for April. Required: Calculate the following: a. The cost elements (materials, labor, and overhead) of cost of goods sold before adjustment for over- or underapplied overhead for each job sold. b. The value of each cost element (materials, labor, and overhead) for each job in work-in-process inventory at April 30. c. Over- or underapplied overhead for April. Complete this question by entering your answers in the tabs below. Required A Required B Required C The cost elements (materials, labor, and overhead) of cost of goods sold before adjustment for over- or underapplied overhead for each job sold. Materials Job 33 Job 41 Overhead was applied to jobs using a predetermined rate per labor dollar that has been used since the company began . All direct materials were purchased for cash and charged directly to Work-in-Process Inventory when purchased. Direct m purchased in April amounted to $17,040. Direct labor costs charged to jobs in April were $119,200. All labor costs were the same per hour for all laborers for April. Required: Calculate the following: a. The cost elements (materials, labor, and overhead) of cost of goods sold before adjustment for over- or underapplied ove each job sold. b. The value of each cost element (materials, labor, and overhead) for each job in work-in-process inventory at April 30. c. Over- or underapplied overhead for April. Complete this question by entering your answers in the tabs below. Required A Required B Required C The cost elements (materials, labor, and overhead) of cost of goods sold before adjustment for over- or underapplied overhead for each job sold. Materials Labor Overhead Job 33 Job 41 . Overhead was applied to jobs using a predetermined rate per labor dollar that has been used since the company began operation . All direct materials were purchased for cash and charged directly to Work-in-Process Inventory when purchased. Direct materials purchased in April amounted to $17,040. Direct labor costs charged to jobs in April were $119,200. All labor costs were the same per hour for all laborers for April. Required: Calculate the following: a. The cost elements (materials, labor, and overhead) of cost of goods sold before adjustment for over- or underapplied overhead for each job sold. b. The value of each cost element (materials, labor, and overhead) for each job in work-in-process inventory at April 30. c. Over- or underapplied overhead for April. Complete this question by entering your answers in the tabs below. Required A Required B Required C The value of each cost element (materials, labor, and overhead) for each job in work-in-process inventory at April 30. Job 42 Materials Labor Overhead i < Prev 10 of 10 Next Overhead was applied to jobs using a predetermined rate per labor dollar that has been used since the company began oper All direct materials were purchased for cash and charged directly to Work-in-Process Inventory when purchased. Direct materi purchased in April amounted to $17,040. Direct labor costs charged to jobs in April were $119,200. All labor costs were the same per hour for all laborers for April. Required: Calculate the following: a. The cost elements (materials, labor, and overhead) of cost of goods sold before adjustment for over- or underapplied overhea each job sold. b. The value of each cost element (materials, labor, and overhead) for each job in work-in-process inventory at April 30. c. Over- or underapplied overhead for April. Complete this question by entering your answers in the tabs below. Required A Required B Required C Over- or underapplied overhead for April.