PROBLEM V Products at Red Manufacturing are sent through two production departments: Fabricating and Finishing. Overhead is applied to products in the Fabricating Department based on 150 percent of direct labor cost and $18 per machine hour in Finishing. The following information is available about Job #297: Direct material Direct labor cost Direct labor hours Machine hours Overhead applied Fabricating $1,590 Finishing $580 ? 48 22 6 5 429 15 ? 7. What is the total cost of Job #297? PROBLEM VI Virginia Company applies overhead to jobs at the rate of 40 percent of direct labor cost. Direct material of $1,250 and direct labor of $1,400 were expended on Job #145 during June. On May 31, the balance of Job # 145 was $2,800. 8. What is the balance on June 30? PROBLEM VII Jackson Company uses a job order costing system and the following information is available from its records. The company has three jobs in process: #6, # 9, and #13. Raw material used Direct labor per hour Overhead applied based on direct labor cost $120,000 $8.50 120% Direct material was requisitioned as follows for each job respectively: 30 percent, 25 percent, and 25 percent; the balance of the requisitions was considered indirect. Direct labor hours per job are 2,500; 3,100; and 4,200; respectively. Indirect labor is $33,000. Other actual overhead costs totaled $36,000. 9. What is the prime cost of Job #6? 10. What is the total amount of overhead applied to Job #9? 11. What is the total amount of actual overhead? 12. How much overhead is applied to Work in Process? 13. If Job # 13 is completed and transferred, what is the balance in Work in Process Inventory at the end of the period if overhead is applied at the end of the period? 14. Assume the balance in Work in Process Inventory was $18,500 on June 1 and $25,297 on June 30. The balance on June 30 represents one job that contains direct material of $11,250. How many direct labor hours have been worked on this job (rounded to the nearest hour)? PROBLEM VIII The following information pertains to Beta Company for September 20X4. Direct Material Job #323 Job #325 Job #401 $3,200 ? 5,670 Direct Labor $4,500 5,000 Overhead $5,550 Beta Company applies overhead for Job # 323 at 140 percent of direct labor cost and at 150 percent of direct labor cost for Jobs # 325 and #401. The total cost of Jobs #323 and #325 is identical. 15. What amount of overhead is applied to Job #323? 16. What amount of overhead is applied to Job #325? 17. What is the amount of direct materials for Job #325? 18. Assume that Jobs # 323 and #401 are incomplete at the end of September. What is the balance in Work in Process Inventory at that time?