Work-in-Process Inventory for Carston Inc. at the beginning of the year was a single job, Job T114: Job # Direct Materials Direct Labor Overhead Total 1114 $ 33,500 $ 17,250 $ 29,750 $ 80,500 The company's budgeted costs for the year are as follows: $ 70,000 58,000 29,000 Budgeted overhead Variable Indirect materials Indirect labor Employee benefits Fixed Supervision Depreciation Total Budgeted direct labor dollars Rate per direct labor dollar 14,000 16,000 $187,000 $ 93,500 2008 The company's actual costs incurred during the year are as follows: Other Job # T114 T119 T133 T136 Incurred by Jobs Materials Labor $ 2,400 $10,400 24,400 18,800 8.400 35,000 1,400 16,600 $36,600 $.80, 800 Total $ 12,800 43,200 43,400 18.000 $117.400 Incurred by Jobs $ 36,600 $ 80, 800 $117,400 Other Incurred by Jobs Materials Labor 61,600 51,600 Overhead Indirect materials and supplies Indirect labor Employee benefits Depreciation Supervision Total 34,400 16,000 Total 61,600 51,600 34,400 16,000 12,600 $176,200 $ 61,600 12,600 $ 64,200 $ 50,400 Required: 1. What was the actual factory overhead for Carston Inc. for the year? 2. What was overapplied or underapplied overhead for the year? 3. Job T114 was the only job completed and sold in the year. What amount was included in the Cost of Goods Sold account for this job? 4. What was the amount of Work-in-Process Inventory at the end of the year? Total actual overhead 2 3. Cost of goods sold for job T114 4. Work in process inventory