Question 3) Dandy Company produces picture frames. On September 1, four jobs were in process with the following costs: Direct materials Job 35 $696 Direct labor Applied overhead** 600 870 Job 36 Job 37 $464 $ 928 Job 38 $1,160 400 700 1,000 580 1,160 1,450 During the month of September, two more jobs were started, Jobs 39 and 40. Materials and labor costs incurred by each job in September are as follows: Job 35 Materials $404 Direct Labor $300 Job 36 252 200 Job 37 364 400 Job 38 888 600 Job 39 Job 40 760 500 992 800 Jobs 36, 37, and 39 were completed and sold by September 30. Dandy prices its jobs at cost plus 65%. Required (round to 2 decimal places when needed): 1) What are the total costs for each job (35-40) and in total as of September 30? 2) What are the WIP, FG, & COGS balances as of September 30? 3) What would the Gross Margin be at the end of the month of September? **Hint: To determine the overhead rate in Question 3, you need to figure out how the applied overhead was determined. If you take the applied overhead / direct labor for each job and they are all the same, then direct labor dollars is used to allocate overhead. If you take the applied overhead/direct materials for each job and they are all the same, then direct material dollars was used to allocate overhead. Whichever one you determine it to be will then be used to allocate overhead to the jobs in September.