Data Table Date Amount 4/30 Labor Time Record No. 1896 1904 Description 12 hours at $14 30 hours at $20 $ 168 5/3 $ 600 Materials Requisition No. 437 Date Amount $ 4/30 5/2 5/3 Description 60 lbs. rubber at $10 40 meters polyester fabric at $12 100 meters steel cord at $8 600 480 439 S 501 S 800 Print Done Frugal Tire manufactures tires for all-terrain vehicles. Frugal uses job costing and has a perpetual inventory system. On April 22, Frugal received an order for 120 TX tires from ATV Corporation at a price of $80 each. The job, assigned number 298, was promised for May 10. After purchasing the materials, Frugal began production on April 30 and incurred the following direct labor and direct materials costs in completing the order: E: (Click the icon to view the costs.) Frugal allocates manufacturing overhead to jobs on the basis of the relation between expected overhead costs (S456,000) and expected direct labor hours (19,000). Job 298 was completed on May 3 and shipped to ATV on May 5. Read the requirements Requirement 1. Prepare a job cost record for Job 298 Calculate the predetermined overhead rate, then apply manufacturing overhead to the job. Begin by identifying the formula and computing the predetermined overhead rate. = Predetermined overhead rate per hour Complete the job cost record in order of direct materials, direct labor, and allocated manufacturing overhead. Then prepare the overall cost summary. (List the dates in chronological order. Enter the labor time records in the correct row according to date. Complete only necessary answer boxes. If a box is not used in the table leave the box empty, do not enter a zero.) Data Table Job Cost Record Job No. 298 Customer Name ATV Corporation 120 TX tires Date Labor Time Record No. Description Amount Job Description Date Promised 5-10 Date Started 4-30 12 hours at $14 $ 168 Date Completed 5-3 Manufacturing Overhead Allocated 4/30 5/3 1896 1904 Direct Materials $ 600 Direct Labor 30 hours at $20 Labor Time Record Requisition Number Materials Requisition No. Date Amount Number Amount Date Rate Amount Date Amount Description 60 lbs. rubber at $10 4/30 437 $ 600 Customer Name ATV Corporation Job Description 120 TX tires Date Promised 5-10 Direct Materials Date Completed 5-3 Manufacturing Overhead Allocated Date Started 4-30 Direct Labor Labor Time Record Number Amount Requisition Number Date Amount Date Rate Amount 20XX per direct labor hr. Overall Cost Summary Direct Materials Direct Labor Manufacturing Overhead Allocated Total Job Cost Totals Requirement 2. Calculate the total profit and the per-unit profit for Job 298. (Round your answer to two decimal places.) Job 298 Sales Less: Cost of job Total profit on job Number of tires Per-unit profit TI