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Sigma Corporation applies overhead costs to jobs on the basis of direct labor costs. Job V, which was started and completed during the current period, shows charges of $5,200 for direct materials, $9,700 for direct labor, and $5,820 for overhead on its job cost sheet. Job W, which is still in process at year-end, shows charges of $3,600 for direct materials and $5,800 for direct labor. a. Should any overhead cost be applied to Job W at year-end? b. How much overhead cost should be applied to Job W?

Sigma Corporation applies overhead costs to jobs on the basis of direct labor costs. Job V, which was started and completed during the current period, shows charges of $5,200 for direct materials, $9,700 for direct labor, and $5,820 for overhead on its job cost sheet. Job W, which is still in process at year-end, shows charges of $3,600 for direct materials and $5,800 for direct labor. a. Should any overhead cost be applied to Job W at year-end? b. How much overhead cost should be applied to Job W?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Sigma Corporation applies overhead costs to jobs on the basis of direct labor costs. Job V, which was started and completed during the current period, shows charges of $5,200 for direct materials, $9,700 for direct labor, and $5,820 for overhead on its job cost sheet. Job W, which is still in process at year-end, shows charges of $3,600 for direct materials and $5,800 for direct labor. a. Should any overhead cost be applied to Job W at year-end? b. How much overhead cost should be applied to Job W?
Transcribed Image Text:Sigma Corporation applies overhead costs to jobs on the basis of direct labor costs. Job V, which was started and completed during the current period, shows charges of $5,200 for direct materials, $9,700 for direct labor, and $5,820 for overhead on its job cost sheet. Job W, which is still in process at year-end, shows charges of $3,600 for direct materials and $5,800 for direct labor. a. Should any overhead cost be applied to Job W at year-end? b. How much overhead cost should be applied to Job W?
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