Sigma Corporation applies overhead cost to jobs on the basis of direct labor cost. Job V, which was started and completed during the current period, shows charges of $5,600 for direct materials, $9,000 for direct labor, and $5,850 for overhead on its job cost sheet. Job W, which is still in process at year-end, shows charges of $2,800 for direct materials and $5,100 for direct labor. Required: 1a. Should any overhead cost be applied to Job Wat year-end? Yes No 1b. How much overhead cost should be applied to Job W? Overhead cost 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? Raw Materials Work-in-Process Finished Goods During the year, Job 550 was started and completed. The following information available with respect to this job: 3 Direct materials Direct labor cost Direct labor-hours Machine-hours $ 183 $ 295 15 5 10 points Rock Required: 1. Assume that Landen has historically used a plantwide predetermined overhead rate with direct labor-hours as the allocation base. Under this approach: a. Compute the plantwide predetermined overhead rate. b. Compute the total manufacturing cost of Job 550. c. If Landen uses a markup percentage of 200% of its total manufacturing cost, what selling price would establish for Job 550? 2. Assume that Landen's controller believes that machine-hours is a better allocation base than direct labor-hours. Under this approach: a. Compute the plantwide predetermined overhead rate. b. Compute the total manufacturing cost of Job 550. c. If Landen uses a markup percentage of 200% of its total manufacturing cost, what selling price would it establish for Job 550? (Round your intermediate calculations to 2 decimal places. Round your Predetermined Overhead Rate answers to 2 decimal places and all other answers to the nearest whole dollar.) per DLH 1. Direct labor-hours: 1a. Predetermined overhead rate 16. Total manufacturing cost of Job 550 1c. Selling price 2. Machine-hours: 2a. Predetermined overhead rate 2b. Total manufacturing cost of Job 550 2c. Selling price per