Check my Lorenzo Company applies overhead to jobs on the basis of direct materials cost. At year-end, the Work in Process Inventory account shows the following. Work in Process Inventory Explanation Date Dec. 31 Direct materials cost 31 Direct labor cost 31 Overhead applied Debit 1,900,000 270,000 646,000 Credit Balance 1,900,000 2,170,000 2,724,000 2,816,000 92,000 31 To finished goods 1. Determine the predetermined overhead rate used (based on direct materials cost). 2. Only one job remained in work in process inventory at December 31. Its direct materials cost is $24,000. How much direct labor cost and overhead cost are assigned to this job? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Only one job remained in work in process inventory at December 31. Its direct materials cost is $24,000. How much direct labor cost and overhead cost are assigned to this job? Total cost of job in process Less: Overhead applied Less: Materials cost of job in process Direct labor cost < Prev 4 of 10 Next