Bonita Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2020, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $ 21,200 direct labor $ 12,720, and manufacturing overhead $ 16,960. As of January 1, Job 49 had been completed at a cost of $ 95,400 and was part of finished goods inventory. There was a $ 15,900 balance in the Raw Materials Inventory account. During the month of January, Bonita Company began production on Jobs 51 and 52, and completed Jobs 50 and 51. Jobs 49 and 50 were sold during the month. The following additional events occurred during the month. 1. 2. 3 Purchased additional raw materials of $ 95,400 on account. Incurred factory labor costs of $ 74,200. Incurred manufacturing overhead costs as follows: indirect materials $ 18,020; indirect labor $ 21,200 ; depreciation expense on equipment $ 12,720; and various other manufacturing overhead costs on account $ 16,960 Assigned direct materials and direct labor to jobs as follows. 4 Job No. 50 51 52 Direct Materials $ 10,600 41,340 31,800 Direct Labor $5,300 26,500 21.200 Your answer is correct. Calculate the predetermined overhead rate for 2020, assuming Bonita Company estimates total manufacturing overhead costs of $ 890,400, direct labor costs of $ 742,000, and direct labor hours of 21,200 for the year. (Round answer to the nearest whole percent, e.g. 25%) Predetermined overhead rate 120 % (b) U.22 Dropdow Open job cost sheets for Jobs 50,51, and 52. Enter the January 1 balances on the job cost sheet for Job 50. Questic Account Dropdown Job No. 50 Date Direct Materials Questio Direct Labor Beg $ Manufacturing Overhead $ Dropdown Jan. Question Accounting Dropdown $ $ $ Question Accounting M Cost of completed job Direct materials $ Question Accounting Te Dropdown Direct labor Manufacturing overhead $ Viewing QL 13 Accounting Mu Total cost Job No.51 Date Direct Materials Direct Labor Manufacturing Overhead Jan. $ $ $ Cost of completed job Direct materials $ Direct labor Manufacturing overhead $ Total cost Job No. 52 Date Direct Materials Direct Labor Manufacturing Overhead Jan. $ $ e Textbook and Media Save for Later Attempts: 0 of 3 used Submit