3. Miguel Company uses a job-order costing system and a predetermined overhead rate based on machine hours. At the beginning of the year, the company estimated manufacturing overhead for the year would be $300,000 and machine hours used would be 30,000. The following information pertains to December of the current year: Job A Job B Job C Totals $25,000 $30,000 $35,000 $90,000 Beginning balance Current period costs added: Materials requisitioned $20,000 $25,000 $15,000 $60,000 $18,000 $20,000 $17,000 $55,000 Direct labor costs Current period activity Assume that job B is the only job completed during the month. Required: a. Compute the predetermined overhead application rate. b. Determine the total cost associated with each job. Machine hours 1,500 2,300 1,200 5,000 Job A Job B Job C c. Give the journal entry to record the total amount of direct material costs requisitioned (used) on the three jobs. Give the journal entry to record the total amount of overhead applied to the threejobs. Give the journal entry to record the completion of Job B. What is the ending balance of work-in-process inventory? d. e. f