Predetermined Overhead Rate, Application of Overhead to Jobs, Job Cost

On April 1, Sangvikar Company had the following balances in its inventory accounts:

Materials Inventory $12,730

Work-in-Process Inventory 21,340

Finished Goods Inventory 8,700

Work-in-process inventory is made up of three jobs with the following costs:

Job 114 Job 115 Job 116

Direct materials $2,411 $2,640 $3,650

Direct labor 1,800 1,560 4,300

Applied overhead 1,170 1,014 2,795

During April, Sangvikar experienced the transactions listed below.

a. Materials purchased on account, $29,000.

b. Materials requisitioned: Job 114, $16,500; Job 115, $12,200; and Job 116, $5,000.

c. Job tickets were collected and summarized: Job 114, 150 hours at $12 per hour; Job 115, 220 hours at $14 per hour; and Job 116, 80 hours at $18 per hour.

d. Overhead is applied on the basis of direct labor cost.

e. Actual overhead was $4,415.

f. Job 115 was completed and transferred to the finished goods warehouse.

g. Job 115 was shipped, and the customer was billed for 125 percent of the cost.

Required:

1. Calculate the predetermined overhead rate based on direct labor cost. % of direct labor cost

2. Calculate the ending balance for each job as of April 30.

Ending Balance:

Job 114 $

Job 115 $

Job 116 $