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, $8,900 for direct labor, and $5,963 for overhead on its job cost sheet. Job W, which is still in process at year-end, shows charges of $2,900 for direct materials and $4,700 for direct labor.

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 Ws job cost sheet be reported within Sigma Corporations financial statements at the end of the year?