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Predetermined Overhead Rate, Application of Overhead to Jobs, Job Cost On April 1, Sangvikar Company had the following balances in its inventory accounts: Work-in-process inventory is made up of three jobs with the following costs: During April, Sangvikar experienced the transactions listed below. a. Materials purchased on account, $29,000. b. Materials requisitioned: Job 114,$16,500; Job 115,$12,200; and Job 116,$5,000. c. Job tickets were collected and summarized: Job 114,150 hours at $12 per hour; Job 115,220 hours at $14 per hour; and Job 116 , 80 hours at $18 per hour. d. Overhead is applied on the basis of direct labor cost. e. Actual overhead was $4,415. f. Job 115 was completed and transferred to the finished goods warehouse. g. Job 115 was shipped, and the customer was billed for 125 percent of the cost. Required: 1. Calculate the predetermined overhead rate based on direct labor cost. % of direct labor cost 2. Calculate the ending balance for each job as of April 30. During April, Sangvikar experienced the transactions listed below. a. Materials purchased on account, $29,000. b. Materials requisitioned: Job 114,$16,500; Job 115,$12,200; and Job 116,$5,000. c. Job tickets were collected and summarized: Job 114,150 hours at $12 per hour; Job 115,220 hours at $14 per hour; and Job 116 , 80 hours at $18 per hour. d. Overhead is applied on the basis of direct labor cost. e. Actual overhead was $4,415. f. Job 115 was completed and transferred to the finished goods warehouse. g. Job 115 was shipped, and the customer was billed for 125 percent of the cost. Required: 1. Calculate the predetermined overhead rate based on direct labor cost. % of direct labor cost 2. Calculate the ending balance for each job as of April 30. 3. Calculate the ending balance of Work in Process as of April 30. $ 4. Calculate the cost of goods sold for April. $ 5. Assuming that Sangvikar prices its jobs at cost plus 25 percent, calculate the price of the one job that was sold during April. $

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