$850 720 1,000 600 900 180 Predetermined Overhead Rate, Application of Overhead to Jobs, Job Cost, Unit Cost On August 1, Cairle Company's work-in-process inventory consisted of three jobs with the following costs: Job 70 Job 71 Job 72 Direct materials $1,700 $2,000 Direct labor 1,900 1,400 900 Applied overhead 1,520 1,120 puring August, four more jobs were started. Information on costs added to the seven jobs during the month is as follows: Job 70 Job 71 Job 72 Job 73 Job 74 Job 75 Job 76 Direct materials $800 $1,235 $3,600 $5,000 $300 $560 $80 Direct labor 1,400 2,200 1,800 Before the end of August, Jobs 70, 72, 73, and 75 were completed. On August 31, Jobs 72 and 75 were sold. Required: 1. Calculate the predetermined overhead rate based on direct labor cost % of direct labor cost. 2. Calculate the ending balance for each job as of August 31. Ending Balance Job 70 Job 71 Job 72 Job 73 Job 74 Job 75 Job 76 3. Calculate the ending balance of Work in Process as of August 31. 4. Calculate the cost of goods sold for August. 5. Assuming that Cairle prices its jobs at cost plus 30 percent, calculate Cairle's sales revenue for August