Exercise 15-12 Analysis of costs assigned to work in process LO P3 Lorenzo Company uses a job order costing system that charges overhead to jobs on the basis of direct materials cost. At year-end, the Work in Process Inventory account shows the following. 2017 Dec. 31 Direct materials cost 31 Direct labor cost 31 31 To finished goods 1,9ee,e00e 278,800 783,800 1,900,90e 2,170,000 2,873,00e 7,800 2,796,00 1. Determine the predetermined overhead rate used (based on direct materials cost) 2. Only one job remained in work in process inventory at December 31, 2017. Its direct materials cost is $39.000. How much direct labor cost and overhead cost are assigned to this job? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the predetermined overhead rat e used (based on direct material cost), Overhead Rate Choose Denomina rator Overhead Rate K Prex 4 of 9 Next> at e 1. Determine the predetermined overhead rate used (based on direct materials cost) 2. Only one job remained in work in process inventory at December 31, 2017. Its direct materials cost is $39,000. How much labor cost and overhead cost are assigned to this job? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Only one job remained in work in process inventory at December 31, 2017. Its direct materials cost is $39,000. How much direct labor cost and overhead cost are assigned to this job? Total cost of job in process Direct labor cost Prex ev 4 of 9 Next