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RTY Corporation started operations this year. As the year went on, they compiled the following information on jobs worked (these are the only jobs
RTY Corporation started operations this year. As the year went on, they compiled the following information on jobs worked (these are the only jobs for the year): Sales Direct Direct Machine Job# Job Status Price Materials Labor hours when sold 869 $2,598 $2,079 47 Complete and sold $12,539 870 $2,825 $2,204 51 Not Complete $13,507 Complete and not 871 $1,906 $1,239 32 $8,453 sold Complete and not 872 $1,451 $1,060 26 $6,772 sold RTY Corporation determined at the beginning of the year that $24 per Machine hour would be an appropriate POHR. As it turns out, throughout the year, overhead incurred totaled $3,294. Over or Under applied overhead is always considered to be immaterial and necessary steps should be taken to close the Overhead account prior to answering the questions below. Make the necessary calculations to determine the following items for the year just ended (round to the nearest whole dollar/input code: 0): Ending balance of Work in process account $ Ending balance of Finished goods account $ Ending balance of Overhead account after closing overhead $ Total Sales $ Total Cost of goods sold after closing overhead $ Gross profit as reported on the Income Statement $ Over/Underapplied overhead (enter overapplied as a positive number and underapplied as a negative number) $
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