As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs. Job 102 $16,000 20,000 9,200 Job 103 Job 104 Direct materials $56,000 $60,000 44,000 20,240 Direct labor 30,000 Overhead applied 13,800 Job 102 was started in production in May, and the following costs were assigned to it in May: direct materials, $11,000; direct labor, $3,900; and overhead, $1,794. 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? Reg 1 and 2 Req 3 Reg 4 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. Direct Materials Job May June Total 102 103 104 Total Direct Labor May Job June Total 102 103 104 Total %24 %24 Reg 1 and 2 Req 4 Req 3 Restengular Snip Using the accumulated costs of the jobs, what predetermined overhead rate is used? Overhead Rate I Choose Denominator: Choose Numerator: Overhead Rate Job 102 Overhead rate %3D Job 103 Overhead rate %3D %3D Job 104 Overhead rate %3D %3D Reg 1 and 2 Reg 3 Req 4 How much total cost is transferred to finished goods during June? Applied Overhead Direct Materials Direct Labor Cost Transferred to Finished Goods Job Total Cost 16,000 $ 20,000 102 103 30,000 56,000 104 60,000 44,000 $ 132,000 $ 94,000 Total