Sigma Corporation applies overhead cost to jobs based on direct labor cost. Job V, which was started and completed during the current period, shows charges of $6,700 for direct materials, $8,900 for direct labor, and $6,052 for overhead on its job cost sheet. Job W, which is still in process at year-end, shows charges of $3,400 for direct materials and $5,900 for direct labor. Required: 1a. Should any overhead cost be applied to Job W at year-end? 1b. How much overhead cost should be applied to Job W? 2. How will the costs included in Job W's job cost sheet be reported within Sigma Corporation's financial statements at the end of the year?

Sigma Corporation applies overhead cost to jobs based on direct labor cost. Job V, which was started and completed during the current period, shows charges of $6,700 for direct materials, $8,900 for ditect labor, and $6,052 for overhead on its job cost $ heet. Job W, which is still in process at year-end, shows charges of $3,400 for direct materials and $5,900 for direct labor. Required: 1a. Should any overhead cost be applied to Job W at year-end? 1b. How mucti overhead cost should be applied to Job W? 2. How will the costs included in Job Ws job cost sheet be reported within Sigma Corporation's financial statements at the end of the year