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Job Costs Using a Plantwide Overhead Rate. wage rate for direct labor is expected to be $35 per hour. During June, Naranjo Compuny worked on four jobs. Dats relating to these four jobs fillow: Required! 1. Calculate the balance in Work in Process as of June 30. 1 2. Cakculate the balance in Finished Goods as of June 30. 1 3. Cakulate the cost of goods sold for June. 1 4. Calculate the price charged for 30b39. Pound your answer to the neareat cent. Overhead is assigned as a percentage of direct labor cost. Duting June, Jobs 39 and 40 were completed; job 39 was sold at 120 percent of cost. (Naranjo had originally developed Job 40 to order for a custorner; however, that oustomer was near bankniptcy and the chance of Naranjo being paid was prowing dimmec, Naranjo decided to hold job 40 in iaventary while the customer worked out its financiat oifficulties. Job 40 is the only job in finished Goods inventoryJ Jobs 41 and 42 remain untinished ac the end of the month, Required: 1. Calculate the balance in Work in Process as of June 30 . : 2. Calculate the balance in Finished Goods as of June 30. 4 3. Cakulate the cost of poods sold for June 4 4. Calculate the price charged for 306 39. Alound your answer to the nearest cent. 1 5. What if the customer for job 40 was able to pay for the job by June 30 ? What would happen to the balance in Finished Goods? What would happen to the balance of Cost of Goads Sold

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