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Western state university uses job-cost records for various research projects. A major reason for such records is to justify requests for reimbursement of costs on projects sponsored by the federal government. Consider the following summarized data regarding a cancer research project in the medical school: - jan 5: direct materials, various medical supplies,$925. - jan 7: direct materials, various chemicals, $780 - jan 5-12: direct labor, research associates, $120 hours - jan 7-12: direct labor, research assistants, $19. The overhead rate is 70% of direct-labor cost. Sketch a job-cost record. Post data to the project-cost record. Compute the total cost of the project through january 12.
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