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Following is partial information for Delamunte Industries for the month of August Work In Process Balance, August 1 Direct materials used Direct labor $ 41,000 75,000 120,000 Manufacturing overhead applied 90,000 Jobs finished during August are summarized here Cost of Jobs Job # Completed $58,eee 65,e0e 74,500 67,500 234 237 231 246 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. (Round your answer to 2 decimal places.) Predetermined Overhead Rate per Direct Labor dollar 2. Determine the balance in Work in Process at the end of August Work in Process 3. Determine how much of the direct materials cost and applied overhead would be recorded for Job 248 as of August 31. (Round your "Predetermined Overhead Rate" to 2 decimal places.) Direct Materials Cost Applied Overhead Wheeler's Bike Company manufactures custom racing bicycles. The company uses a job order cost system to determine the cost of each bike. Estimated costs and expenses for the coming year follow Bike parts Factory machinery depreciation Factory supervisor salaries Factory direct labor Factory supplies Factory property tax Advertising cost Administrative salaries Administrative -related depreciation $ 350,000 55,000 140,eee 300,e00 7,500 37,see 14,50e 8e,eee 16,eee Total expected costs $ 1,000,5ee Required: 1. Calculate the predetermined overhead rate per direct labor hour if the average direct labor rate is $15 per hour per DL Hour Predetermined Overhead Rate 2. Determine the amount of applied overhead if 18,500 actual hours are worked in the upcoming year Applied Overhead