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 $$6,400$ for direct materials, $$8,700$ for direct labor, and $$5,046$ for overhead on its job cost sheet. Job W$,$ which is still in process at year$-$end, shows charges of $$2,700$ for direct materials and $$5,600$ for direct labor.

Required:

$1$a$.$ Should any overhead cost be applied to Job W at year$-$end?

$1$b$.$ How much overhead cost should be applied to Job W$?$

$2.$ How will the costs included in Job W$\text{'}$s job cost sheet be reported within Sigma Corporation's financial statements at the end of the year?

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Should any overhead cost be applied to Job W at year$-$end?

Should any overhead cost be applied to Job W at year$-$end?