As of the end of June, the job cost sheets at Racing Wheels, Inc., show the...

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As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs. Direct materials Direct labor Overhead applied Job 102 Job 103 Job 104 $37,000 18,000 6,660 $55,000 27,100 10,027 $50,000 44,000 16,280 Job 102 was started in production in May, and the following costs were assigned to it in May: direct materials, $9,000; direct labor, $3,300; and overhead, $1,221. Jobs 103 and 104 were started in June. Overhead cost is applied with a predetermined rate based on direct labor cost. Jobs 102 and 103 were finished in June, and Job 104 is expected to be finished in July. No raw materials were used indirectly in June. Using this information, answer the following questions. (Assume this company's predetermined overhead rate did not change across these months.) 1&2. Complete the table below to calculate the cost of the raw materials requisitioned and direct labor cost incurred during June for each of the three jobs? 3. Using the accumulated costs of the jobs, what predetermined overhead rate is used? 4. How much total cost is transferred to finished goods during June? Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 How much total cost is transferred to finished goods during June? Job Direct Materials Direct Labor Applied Overhead Cost Transferred to Total Cost Finished Goods 102 $ 37,000 $18,000 $ 6,660 $ 61,660 103 104 55,000 50,000 27,100 44,000 10,027 92,127 16,280 110,280 Total $ 142,000 $ 89,100 $ 32,967 $264,067 As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs. Direct materials Direct labor Overhead applied Job 102 Job 103 Job 104 $37,000 18,000 6,660 $55,000 27,100 10,027 $50,000 44,000 16,280 Job 102 was started in production in May, and the following costs were assigned to it in May: direct materials, $9,000; direct labor, $3,300; and overhead, $1,221. Jobs 103 and 104 were started in June. Overhead cost is applied with a predetermined rate based on direct labor cost. Jobs 102 and 103 were finished in June, and Job 104 is expected to be finished in July. No raw materials were used indirectly in June. Using this information, answer the following questions. (Assume this company's predetermined overhead rate did not change across these months.) 1&2. Complete the table below to calculate the cost of the raw materials requisitioned and direct labor cost incurred during June for each of the three jobs? 3. Using the accumulated costs of the jobs, what predetermined overhead rate is used? 4. How much total cost is transferred to finished goods during June? Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 How much total cost is transferred to finished goods during June? Job Direct Materials Direct Labor Applied Overhead Cost Transferred to Total Cost Finished Goods 102 $ 37,000 $18,000 $ 6,660 $ 61,660 103 104 55,000 50,000 27,100 44,000 10,027 92,127 16,280 110,280 Total $ 142,000 $ 89,100 $ 32,967 $264,067