#2 only. Compute the amount of Direct Materials account at the end of July.

Haughton Company uses a job costing system for its production costs and a predetermined factory overhead rate based on direct X13 was started in June. labor costs to apply factory overhead to all jobs. During the month of July, the firm processed three jobs: X13, X14, and X15, of which Inventories July 1 July 31 Direct Materials Work-in-Process $ 37 , 600 Finished Goods 43 , 200 Cost of Goods Sold N NO ur Direct materials purchased in July 66, 000 Materials issued to production: X13 17 , 700 X14 33 , 020 X15 14 , 550 Factory labor hours used ( $30/hour ) : x13 4 , 050 X14 3, 350 X15 2 , 150 Indirect labor 7, 450 Other factory overhead costs incurred: Rent $137, 000 Utilities 644, 250 Repairs and maintenance 194 , 000 Depreciation 136 , 600 Other 61 , 500 As of July 31, Job X13 was sold and Jobs X14 and X15 were still in process. Total factory overhead applied in July was $1,403,850. Required: 1. Compute the predetermined factory overhead rate. 2. Compute the amount of the Direct Materials account at the end of July