The books of Torrent Company show the following account balances as of March 1:

The work in process account is supported by the following job order cost sheets:

During March, the following transactions occurred:
(a) Purchase of materials, $41,000.
(b) Purchase of special materials was $5,800 for new Job 207, which calls for 4,000 life jackets.
(c) Indirect labor cost was $12,480. Direct labor was as follows:

(d) Materials issued:
Job 204 ...................$ 9,480
Job 205 ...................11,320
Job 206 ...................10,490
Job 207 ...................16,640*
*Excluding $5,800 of special materials, which are also issued at this time.
(e) Other factory overhead incurred or accrued (for brevity, credit the entire amount to Various Credits):

(f) Factory overhead is applied at the rate of $2.30 per direct labor hour. An applied factory overhead account is used and is then closed to the overhead control account.
(g) Job 204 was shipped and billed at a contract price of $117,500.
Required:
(1) Construct ledger accounts, inserting beginning balances and entering transactions for March. (Factory overhead incurred is to be posted to the control account only.)
(2) In itemized form, compute the total cost of each job at the end of March.
(3) Determine the amount of over- or underapplied factory overhead remaining in the overhead control account.

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Work in Process Materials 292,621 66,300 …… …… Direct Direct Factory Job 204 205 206 tem Materials Labor Overhead Total $13,800 50,460 $ 15,230 40,450 60,875 $116,555 $21,430 55,240 43,860 $120,530 5,000 Life rafts 10,000 Life belts 22,370 19366 124101 $55,536 $292,621 118,060 Job 204 205 206 207 Amount $26,844 22,750 28,920 20,370 Hours 3,355.5 3,250.0 3,615.0 2,910.0 Insurance on Factory.... Depreciation-Machinery Depreciation-Factory Building.. Light Coal Used... Power.. Repairs and Maintenance Indirect Supplies 830.00 845.00 780.00 840.00 560.00 1,810.00 3,390.00 2,240.00 1,910.00 15,256.87 .