Question 15 15 pts Caldwell Corporation uses a job order costing system. Three jobs were worked on during the current year. The predetermined overhead rate is 150% of direct labor costs. The following cost information is available (all materials and time ticket information applies to direct costs): Job Materials Requisitions Time Tickets Job Status at year end (162 $25,000 $22,500 Completed & Sold 189 $32,500 $56,000 Unfinished 201 $39,000 $61,000 Completed, not sold Required: Answer the following a-d requirements in the space provided below. Show your work! a) Determine the total cost of each job. b) Determine the amounts of each of the following at the end of the period. 1- Work in Process: 2- Finished Goods: 3- Cost of Goods Sold: c) Caldwell determines sales prices by adding 28% markup onto the cost of each job. Calculate the sales price for each job Caldwell sold during the period. Calculate the resulting gross profit % (ratio) for the year (Hint-markup % and gross profit ratio are not the same thing!). d) Given the costs determined in Part 1 and using what you know about various types of production, what product might Caldwell be producing? Hint-there are a large number of 'correct' answers possible but you must think logically