Exercise 19-3 Analyzing of cost flows C2 As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total Page 711 costs accumulated on three custom jobs. Job 102 Job 103 Job 104 Direct materials. $15,000 $33,000 $27,000 Direct labor. 8,000 14,200 21,000 Overhead applied.. 4,000 7,100 10,500 Job 102 was started in production in May, and the following costs were assigned to it in May: direct materials, $6,000; direct labor, $1,800; and overhead, $900. Jobs 103 and 104 were started in June. Overhead cost is applied with a predetermined rate based on direct labor cost. Jobs 102 and 103 were finished in June, and Job 104 is expected to be finished in July. No raw materials were used indirectly in June. Using this information, answer the following questions. (Assume this company's predetermined overhead rate did not change across these months.) 1. What was the cost of the raw materials requisitioned in June for each of the three jobs? 2. How much direct labor cost was incurred during June for each of the three jobs? 3. What predetermined overhead rate is used during June? 4. How much total cost is transferred to finished goods during June? Check (4) $81,300