Question

On April 1, Sangvikar Company had the following balances in its inventory accounts:

Materials Inventory	$12,730
Work-in-Process Inventory	21,340
Finished Goods Inventory	8,700

Work-in-process inventory is made up of three jobs with the following costs:

	Job 114	Job 115	Job 116
Direct materials	$2,411	$2,640	$3,650
Direct labor	1,800	1,560	4,300
Applied overhead	1,170	1,014	2,795

During April, Sangvikar experienced the transactions listed below.

1. Materials purchased on account, $29,000.

2. Materials requisitioned: Job 114, $16,500; Job 115, $12,200; and Job 116, $5,000.

3. 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.

4. Overhead is applied on the basis of direct labor cost.

5. Actual overhead was $4,415.

6. Job 115 was completed and transferred to the finished goods warehouse.

7. 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.

	Ending Balance
Job 114	$
Job 115	$
Job 116	$

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.