15-1A (Algo) Computing job costs and overhead rate; assigning costs to inventory LO C1, P3 [The following information applies to the questions displayed below.] At the end of June, the job cost sheets at Ace Roofers show the following costs accumulated on three jobs. At June 30 Direct materials Direct labor Job 5 $ 16,800 9,800 4,900 Job 6 $ 33,900 16,000 8,000 Job 7 $ 27,900 22,800 11,400 Overhead applied Additional Information a. Job 5 was started in May, and the following costs were assigned to it in May: direct materials, $6,900; direct labor, $2,700; and applied overhead, $1,800. Job 5 was finished in June. b. Job 6 and Job 7 were started in June; Job 6 was finished in June, and Job 7 is to be completed in July. c. Overhead cost is applied with a predetermined rate based on direct labor cost. The predetermined overhead rate did not change across these months. Problem 15-1A (Algo) Part 1 Required 1. What is the total cost of direct materials requisitioned in June? Direct materials requisitioned in June 2. What is the total cost of direct labor used in June? Direct labor used in June 3. What is the predetermined overhead rate? Predetermined overhead rate % 4. What is the total cost transferred to Finished Goods Inventory in June? Total transferred cost