Exercise 5.14 Predetermined Overhead Rate, Application of Overhead to Jobs, Job Cost, Unit Cost On August 1, Cairle Company's work-in-process inventory consisted of three jobs with the following costs: OBJECTIVE Job 72 $850 900 675 Job 70 Job 71 Direct materials Direct labor Applied overhead $1,600 1,900 1,425 $2,000 1,300 975 During August, four more jobs were started. Information on costs added to the seven jobs dur- ing the month is as follows: Job 70 Job 71 Job 72 Job 73 Job 74 Job 75 Job 76 800 S1,235 $3,550 $5,000 $300 $560 $ 80 1,000 1,400 2,200 1,800 600 860 172 Direct materials Direct labor Before the end of August, Jobs 70, 72, 73, and 75 were completed. On August 31, Jobs 72 and 75 were sold. Required: L. Calculate the predetermined overhead rate based on direct labor cost. 2 Calculate the ending balance for each job as of August 31. Calculate the ending balance of Work in Process as of August 31. Calculate the cost of goods sold for August. for August. . Assuming that Cairle prices its jobs at cost plus 20 percent, calculate Cairle's sales revenue