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10 Sigma Corporation applies overhead cost to jobs on the basis of direct labor cost. Job V, which was started and completed

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Sigma Corporation
Answer 1 a
Yes overhead should be applied to Job W. Overhead is applied to every jobs even if they are not completed at the end of year.
Answer 1 b
To calculated the amount of overhead to be applied to Job W we first have to calculate the overhead application rate based on direct labor cost through Job V.
Direct Labor cost     8,100.00
Overhead applied     5,994.00
Overhead rate 74.00%
Overhead to be applied to Job W
Direct Labor cost     5,800.00
Overhead rate 74.00%
Overhead to be applied    4,292.00
So $ 4,292 should be applied to Job W.
Answer 2
As Job W is not completed at the end of year so it will included in the Work IN Process inventory in the financial statements of Sigma Corporation at the end of year.
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