Sigma Corporation applies overhead cost to jobs on the basis of direct labor cost. Job...
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Accounting
Sigma Corporation applies overhead cost to jobs on the basis of direct labor cost. Job V, which was started and completed during the current period, shows charges of $5,000 for direct materials, $9,700 for direct labor, and $6,596 for overhead on its job cost sheet. Job W, which is still in process at year-end, shows charges of $4,400 for direct materials and $4,400 for direct labor.
Required: 1a. Should any overhead cost be applied to Job W at year-end?
Yes or No?
1b. How much overhead cost should be applied to Job W?
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