Classic Technology Co. manufactures DVDs for computer software and entertainment companies. Classic uses job order costing. On June 2, Classic began production of 5,400 DVDs, Job 423, for Digital Pictures for $1.10 sales price per DVD. Classic promised to deliver the DVDs to Digital Pictures by June 5. Classic incurred the following direct costs: (Click the icon to view the costs.) (Click the icon to view additional information.) Read the requirements. Requirement 1. Prepare a job cost record for Job 423. Calculate the predetermined overhead allocation rate (round to two decimal places); then allocate manufacturing overhead to the job. Begin by determining the total amount of direct materials and direct labor incurred on the job. Next, calculate the predetermined overhead allocation rate and apply manufacturing overhead to the job. Lastly, compute the total cost of Job 423 and the cost per DVD. i More Info O Data Table Job Cost Record Job No. 423 Customer Name Job Description Date Promised 6-5 Digital 5,400 DVDs Classic Technology allocates manufacturing overhead to jobs based on the relation between estimated overhead of $667,000 and estimated direct labor costs of $460,000. Job 423 was completed and shipped on June 3. Date 6/02 6/03 Labor Time Record No. 655 656 Description 10 hours @ $18 per hour 20 hours @ $13 per hour Amount $180 260 Direct materials Print Done Materials Requisition Number Date Amount Requisition No. i Requirements Date 6/02 6-2 6-2 Description 31 lbs. polycarbonate plastic @ $12 per lb. 25 lbs. acrylic plastic @ $29 per lb. 3 lbs. refined aluminum @ $42 per lb. Amount $ 372 725 6/02 6/03 1. Prepare a job cost record for Job 423. Calculate the predetermined overhead allocation rate (round to two decimal places); then allocate manufacturing overhead to the job. 2. Journalize in summary form the requisition of direct materials and the assignment of direct labor and the allocation of manufacturing overhead to Job 423. Wages are not yet paid. 3. Journalize completion of the job and the sale of the 5,400 DVDs on account Print Done Enter any number in the edit fields and then click Check A Print Done A parts O Ular remaining Check