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

On August 1, Cairle Company's work-in-process inventory consisted of three jobs with the following costs:

	Job 70	Job 71	Job 72
Direct materials	$1,700	$2,000	$850
Direct labor	1,900	1,200	900
Applied overhead	1,520	960	720

During August, four more jobs were started. Information on costs added to the seven jobs during the month is as follows:

	Job 70	Job 71	Job 72	Job 73	Job 74	Job 75	Job 76
Direct materials	$800	$1,235	$3,500	$5,000	$300	$560	$80
Direct labor	1,000	1,400	2,200	1,800	600	850	170

Before the end of August, Jobs 70, 72, 73, and 75 were completed. On August 31, Jobs 72 and 75 were sold.

Required:

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

2. Calculate the ending balance for each job as of August 31.

	Ending Balance
Job 70	$fill in the blank 2
Job 71	$fill in the blank 3
Job 72	$fill in the blank 4
Job 73	$fill in the blank 5
Job 74	$fill in the blank 6
Job 75	$fill in the blank 7
Job 76	$fill in the blank 8

3. Calculate the ending balance of Work in Process as of August 31. $fill in the blank 9

4. Calculate the cost of goods sold for August. $fill in the blank 10

5. Assuming that Cairle prices its jobs at cost plus 30 percent, calculate Cairle's sales revenue for August. $fill in the blank 11