Assume that Corey decided to use a Job Order Costing system. Golden Wolves Statue Company's plantwide predetermined overhead rate uses direct labor-hours as the allocation base Corey pays Carl and Julie the hourly wage specified in the table above. During the first year of operations, the company started and completed three large jobs for 3 different retailers. One retailer wanted only small profile statues, another wanted only large profile statues and the third Golden Wolves Statue Company Unit Product Costs (Assignment #3) 55 points (5 points per calculation in the answer tables, 4 answers provided out of 15). 5 points per calculation in the answer tables, Corey spent the month of December talking to various suppliers in order to figure out how much nted the large forward-facing statues. Some of the details of each job are as follows: all of the components of his business would cost. He added cost information to the information in the table below Job 1: Small profile statues, Carl worked 240 direct labor-hours. Julie did not work on Job1 Job 2: Large profile statues, 1080 statues were completed, Manufacturing Overhead Applied equals $3,240. Carl worked on these, Julie did not. Cost Information Equipment, Materials and other Costs Resin Molds Cost Standard per Statue Job 3: Forward facing statues with t shirts, 900 statues were completed. Carl and Julie each worked on these for the times, per statue, listed in the table above $2,500 5,000 $2,000 Assignment: Complete the job cost sheets for the three jobs by calculating the Direet materials, Direct labor and Manufacturing overhead applied for each of the 3 jobs given the information in the cost table above and calculate the plantwide predetermined overhead rate. Machine -shirts $75 for 100 Golden Wolves L Resin 100 for 25 pounds 1 lb for small statues and 2 lbs for large statues 1 box for each small statue 1 box for each large statue Hints $12.50 for 50 boxes $20 for 50 boxes $200/year Small Pac box box For Step 1, using the cost table and the information given, calculate the total amount of Direct Labor and number of statues produced in each job. Business Licenses Rent Pad Point of Sale S Point of Sale Software Utilities (gas, electric and Business Cell Phone For Step 2, calculate the Plantwide Predetermined Overhead rate per Direct Labor hour worked using Job 2 (since the Manufacturing Overhead Applied value is already provided) once you have calculated the total direct labor cost. $1,000 For Step 3, calculate the manufacturing overhead applied using the plantwide predetermined overheard rate and the information that you already calculated. 20 minutes per statue for all tatues 5 minutes per large forward- facing statue for t-shirt Carl's Pay $10/hour For Step 4, determine the cost of material per statue from the cost table and then apply it to the number of statues completed.) Julie's Pay $10/hour Job 2: Large Profile Statues Direct materials Direct Labor Manufacturing overhead applied Total job cost # of Statues completed cement $200/month 100/month 3,240 1080 Job 1: Small Profile Statues Direct materials Direct Labor Manufacturing overhead applied Total job cost # of Statues completed $3,060 Job 3: Large Forward Facing Statues Direct materials Direct Laber Manufacturing overhead applied Total job cost # of Statues completed 900