(Cost flows) Custom Landscapes began operations on March 1, 2001. Its Work in Process Inventory account on March 31 appeared as follows:

The company applies overhead on the basis of direct labor cost. Only one job was still in process on March 31. That job had $132,600 in direct material and $93,600 in direct labor cost assigned to it.

a. What was the predetermined overhead application rate?

b. How much cost was transferred out for jobs completed during March?
 

Direct material Direct labor Applied overhead Work In Process Inventory 554,400 Cost of completed jobs 384,000 345,600 ??