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 Work-in-Process Inventory Finished Goods Inventory $12,760 21,310 8,700 Work-in-process inventory is made up of three jobs with the following costs: Direct materials Direct labor Applied overhead Job 114 Job 115 Job 116 $2,450 $2,686 $2,909 1,740 1,440 4,400 1,305 1,080 3,300 During April, Sangvikar experienced the transactions listed below. a. Materials purchased on account, $29,330. b. Materials requisitioned: Job 114, $16,640; Job 115, $12,330; and Job 116, $5,320. c. Job tickets were collected and summarized: Job 114, 150 hours at $11 per hour; Job 115, 210 hours at $15 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 $4,220. 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.