Prepare Job$-$Order Cost Sheets, Predetermined Overhead Rate, Ending Balance of WIP, Finished Goods, and COGS

At the beginning of March, Aranda Company had two jobs in process, Job $86$ and Job $87,$ with the following accumulated cost information:

During March, two more jobs $(88$ and $89)$ were started. The following direct materials and direct labor costs were added to the four jobs during the month of March:

At the end of March, Jobs $86,\{7,$ and $89$ were completed. Jobs $86$ and $87$ were sold. On March $1,$ the balance in Finished Goods was zero.

Required:

Calculate the plantwide overhead rate based on direct labor cost.

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Prepare a brief job$-$order cost sheet for the four jobs. Show the balance as of March $1$ as well as direct materials and direct labor added in March. Apply overhead

to the four jobs for the month of March and show the ending balances. If an amount box does not require an entry, leave it blank or enter $"0".$