Cost accumulation Croftmark Co. began operations on May 1. Its Work in Process Inventory account on May 31 appeared as follows: The company applies overhead on the basis of direct labor cost. Only one job was still in process on May 31. That job had $82,995 in direct material and $39,820 in direct labor cost assigned to it. a. What was the predetermined overhead application rate? Enter your answer as a whole percentage. b. What was the balance in WIP Inventory at the end of May? $ c. What was the total cost of jobs completed in May? \$