Redetermined Overhead Rate, Application of Overhead to Jobs, Job Cost On April 1, Sangvikar Company had the following balances in its inventory accounts:
| Materials Inventory |
$12,580 |
| Work-in-Process Inventory |
21,040 |
| Finished Goods Inventory |
8,920 |
Work-in-process inventory is made up of three jobs with the following costs:
| Job 114 |
Job 115 |
Job 116 |
| Direct materials |
$2,411 |
$2,651 |
$4,518 |
| Direct labor |
1,840 |
1,600 |
4,200 |
| Applied overhead |
920 |
800 |
2,100 |
During April, Sangvikar experienced the transactions listed below.
- Materials purchased on account, $28,880.
- Materials requisitioned: Job 114, $16,350; Job 115, $11,790; and Job 116, $5,120.
- Job tickets were collected and summarized: Job 114, 140 hours at $11 per hour; Job 115, 210 hours at $15 per hour; and Job 116, 100 hours at $19 per hour.
- Overhead is applied on the basis of direct labor cost.
- Actual overhead was $4,630.
- Job 115 was completed and transferred to the finished goods warehouse.
- Job 115 was shipped, and the customer was billed for 125 percent of the cost.
Calculate the ending balance for each job as of April 30. When required, round your answers to the nearest dollar. Use your rounded answers in subsequent computations, if necessary.