Cho 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 Credit Work in Process Inventory Explanation Det Dec 31 Direct materials cast 1,600,00 31 Direct labor cost 298,000 31 Overheall applied 624,000 3 to finished goods Balance 1.600,00 1,00 2,514, 72,00 1. Determine the predetermined overhead rate used (based on direct materials com 2. Only one job remained in work in process inventory at December 31, is direct materials costs $28.000. How much dnech sborot and overhead cost are assigned to this job? Complete this question by entering your answers in the tabs below. que 1 Determine the predetermined overhead rate weed (based on direct materiale con - Choose Denominator Overhead Rate Oamente CHC N 4210 Required 2 > 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 Date Explanatin Debit Credit Balance Dec 31 Direct materials cost 1,600,000 2,000 31 Direct labor cost 290,00 1,0.000 31 Overhead applied 624.00 2,514, 31 to finished goods 72,1 1. Determine the predetermined overhead rate used based on direct materials.com 2. Only one job remained in work in process inventory at December 31, its direct materials cost $28,000 How much rect labor cost and overhead cost are assigned to this job? Complete this question by entering your answers in the tabs below. Required Meguired Only one job remained in work in process inventory at December 31, it direct mais 28.000. Hot much direct Jaber cost and overhead cast are assigned to this job? Totoons Dost