Following is partial information for Delamunte Industries for the month of August:

Work In Process

Balance, August 1 ....... $ 41,000

Direct materials used ...... 75,000

Direct labor .......... 120,000

Manufacturing overhead applied ... 90,000

Jobs finished during August are summarized here:

Job # .... Cost of Jobs Completed

234 ........... $58,000

237 .......... 65,000

231 .......... 74,500

246 ....... 67,500

Required:

At the end of August, only one job, Job 248, was still in process. The direct labor cost incurred on Job 248 as of August 31 was $24,000.

1. Calculate the predetermined overhead rate that was used to apply manufacturing overhead to jobs during August.

2. Determine the balance in Work in Process at the end of August.

3. Determine how much of the direct materials cost and applied overhead would be recorded for Job 248 as of August31.