Problem 23-6A (Part Level Submission) Jorgensen Corporation uses standard costs with its job order cost accounting system. In January, an order (Job No. 12) for 1,000 units of Product B was received. The standard cost of one unit of Product B is as follows. Direct materials Direct labor Overhead 3 pounds at $1.30 per pound 1.80 hour at $10.00 per hour 2 hours (variable $4.40 per machine hour; fixed $3.40 per $3.90 18.00) 15.60 machine hour Standard cost per unit $37.50 Normal capacity for the month was 4,020 machine hours. During January, the following transactions applicable to Job No. 12 occurred. 1. Purchased 3,400 pounds of raw materials on account at $1.38 per pound. 2. Requisitioned 3,400 pounds of raw materials for Job No. 12 3 Incurred 1,860 hours of direct labor at a rate of $9.95 per hour. 4. Worked 1,860 hours of direct labor on Job No. 12. 5 Incurred manufacturing overhead on account $16,850. 6. Applied overhead to Job No. 12 on basis of standard machine hours allowed. . Completed Job No. 12. 8. Billed customer for Job No. 12 at a selling price of $85,000