Exercise 2-3 Analysis of cost flows LO C2 job cost sheets at Racing Wheels, Inc, show the following total costs accumulated on three custom jobs. Job 182 ob 103 Job 184 Direct materials Direct labor Overhead applied $40,e00 $48,00 $6e,800 20,080 28,380 41, 10,080 14,15 20,580 Job 102 was started in production in May and the following costs were assigned to it in May: direct materials, $10,000: d $3,300; and overhead, $1,650 Jobs 103 and 104 were started in June. Overhead cost is applied with a predetermined rate based on direct labor cost. Jobs 10 indirectly in June. Using this information, answer the following questions. (Assume this company's predetermined overhead rate did not change across these months.) 2 and 103 were finished in June, and Job 104 is expected to be finished in July. No raw materials were used 1&2. Complete the table below to calculate the cost of the raw materials requisitioned and direct labor cost incurred during June for each of the three jobs? 3. Using the accumulated costs of the jobs, what predetermined overhead rate is used? 4. How much total cost is transferred to finished goods during June? Complete this question by entering your answers in the tabs below. Prey 10, 1 Next Ch 02 Ex 2-3 6 Saved Help Complete this question by entering your answers in the tabs below. 10 points Req 1 and 2 Req 3 Req 4 Using the accumulated costs of the jobs, what predetermined overhead rate is used? eBook Hint Ask Print Overhead Rate e Numerator: Choose Denominator: | # | Overhead Rate Job 102 Overhead rate Job 103 Overhead rate Job 104 Overhead rate