The Print Shop produces custom paintings. Costs are tracked for each painting, with shop overhe: being applied at 125% of direct labor cost. Print Shop began July with one job in process. This job had beginning work in process which include total costs of $6,500 (direct labor, direct material, and applied overhead). During July, four new jobs were begun. These consisted of the Smith family portrait, the Wilde family reunion portrait, the county courthouse painting, and the Waterson baby painting. The only job remaining in process at the end of July was the Wilde family portrait. To date, $8,000 in direct labor and $2,500 of direct materials had been committed to the Wilde job. Total direct labor incurred on all jobs during July was $21,900. Total direct material incurred on all jobs during June was $6,900. a) Compute the ending work in process inventory balance and the total cost assigned to finished jobs. b) Why is it necessary to track costs to individual jobs? c) The overhead application rate is based on estimates. What happens if the amount of overhead applied to individual jobs differs from the amount of overhead actually incurred