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 $12,620 Work-in-Process Inventory 21,300 Finished Goods Inventory 8,980 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 $2,377 $2,617 $5,115 1,740 1,460 4,020 957 803 2,211 During April, Sangvikar experienced the transactions listed below. a. Materials purchased on account, $29,080. b. Materials requisitioned: Job 114, $16,600; Job 115, $12,210; and Job 116, $4,870. c. Job tickets were collected and summarized: Job 114, 160 hours at $12 per hour; Job 115, 200 hours at $14 per hour; and Job 116, 70 hours at $18 per hour. d. Overhead is applied on the basis of direct labor cost. e. Actual overhead was $4,285. 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.