A new company started production. Job 11 was completed, and Job 12 remains in production. Job 11 and 12 has 180 and 80 direct labor hours, respectively. Here is the information from job cost sheets from their first and only jobs so far: Product Costs Direct Materials Direct Labor Factory Overhead Total Cost What is the balance in Work in Process? Job 11 Job 12 6,049 3,800 2,685 1,373 2,700 1,200 11,434 6,373 What is the balance in Finished Goods? If manufacturing overhead is applied on the basis of direct labor hours, what is the predetermined overhead rate?