Whispering Corporation uses standard costs with its job order cost accounting system. In January, an order (Job No. 12) for 1.000 units of Product B was received. The standard cost of one unit of Product B is as follows. $3.00 Direct materials Direct labor Overhead Standard cost per unit 3 pounds at $1.00 per pound 1.90 hour at $10.00 per hour 2 hours (variable $4.20 per machine hour: fixed $3.40 per machine hour) 19.00 15.20 $37.20 Normal capacity for the month was 4,070 machine hours. During January, the following transactions applicable to Job No. 12 occurred. 1. 2. 3. Purchased 3,100 pounds of raw materials on account at $1.05 per pound. Requisitioned 3,100 pounds of raw materials for Job No. 12. Incurred 1.950 hours of direct labor at a rate of $9.90 per hour. Worked 1,950 hours of direct labor on Job No. 12. Incurred manufacturing overhead on account $16,780, Applied overhead to Job No. 12 on basis of standard machine hours allowed. 4. 5. 6. 7. Completed Job No. 12. 8 Billed customer for Job No. 12 at a selling price of $80,000 Question 19 of 19