Geo Tire manufactures tires for all-terrain vehicles. Geo uses job costing and has a perpetual inventory system. On September 22, Geo received an order for 110 TX tires from ATV Corporation at a price of $75 each. The job, assigned number 298, was promised for October 10. After purchasing the materials, Geo began production on September 30 and incurred the following direct labor and direct materials costs in completing the order:

Geo allocates manufacturing overhead to jobs on the basis of the relation between expected overhead costs ($540,000) and expected direct labor hours (20,000). Job 298 was completed on October 3 and shipped to ATV on October 5.

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Labor Time Record No. Date Description Amount 9/30 1896 12 hours at $14 $ 168 10/3 1904 30 hours at $20 $ 600 Date Materials Requisition No. Amount 9/30 437 $ 960 Description 60 lbs. rubber at $16 40 meters polyester fabric at $10 100 meters steel cord at $8 10/2 439 $ 400 10/3 501 $ 800 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. If an input field is not used in the table, leave the input field empty; do not enter a zero.) Job Cost Record Job No. 298 Customer Name ATV Corporation Job Description 110 TX tires Date Promised 10-10 Date Started 9-30 Date Completed 10-3 Manufacturing Overhead Allocated Direct Materials Direct Labor Labor Time Record Requisition Number Date Amount Number Amount Date Rate Amount 20XX per direct labor hr. Overall Cost Summary Direct Materials Direct Labor Manufacturing Overhead Allocated Totals Total Job Cost 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 MT Per-unit profit