Geolander Tire manufactures tires for all-terrain vehicles Geolander uses job costing and has a perpetual inventory system. On November 22, Geolander received an order for 100 TX tires from ATV Corporation at a price of $80 each. The job, assigned number 298, was promised for December 10 After purchasing the materials, Geolander began production on November 30 and incurred the following direct labor and direct materials costs in completing the order. (Click the icon to view the costs.) Geolander allocates manufacturing overhead to jobs on the basis of the relation between expected overhead costs ($529,000) and expected direct labor hours (23,000) Job 298 was completed on December 3 and shipped to ATV on December 5 Read the requirements 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. Complete only necessary answer boxes. If a box is not used in the table leave the box empty; do not enter a zero.) Job Cost Record Job No. 298 Customer Name Job Description Data lablc ATV Corporation 100 TX tires Date Promised 12-10 Date Started 11-30 Date Completed 12-3 Direct Materials Direct Labor Manufacturing Overhead Allocated Labor Time Requisition Date 20XX Number Amount Record Number Date 11/30 12/3 Labor Time Record No. Description Amount 1896 1904 12 hours at $14 30 hours at $18 $ 168 $ 540 Amount Date Rate Amount Materials direct labor hr Overall Cost Summary Requisition Date No. Description Amount 11/30 437 60 lbs rubber at $15 $ 730 Direct Materials Direct Labor Manufacturing Overhead Allocated 12/2 439 40 meters polyester fabric at $10 $ 400 12/3 501 100 meters steel cord at $8 $ 800 Print Done Geolander Tire manufactures tires for all-terrain vehicles. Geolander uses job costing and has a perpetual inventory system. On November 22, Geolander received an order for 100 TX tires from ATV Corporation at a price of $80 each. The job, assigned number 298, was promised for December 10. After purchasing the materials, Geolander began production on November 30 and incurred the following direct labor and direct materials costs in completing the order. (Click the icon to view the costs.) Geolander allocates manufacturing overhead to jobs on the basis of the relation between expected overhead costs ($529,000) and expected direct labor hours (23,000). Job 298 was completed on December 3 and shipped to ATV on December 5. Read the requirements. DOD NO. Customer Name Job Description Date Promised 12-10 ATV Corporation 100 TX tires Date Started 11-30 Date Completed 12-3 Manufacturing Overhead Allocated Direct Materials Direct Labor Labor Time Requisition Record Date 20XX Number Amount Number Amount Date Rate Amount per direct labor hr. Overall Cost Summary Direct Materials Data Table Direct Labor Manufacturing Overhead Date 11/30 Labor Time Record No. 1896 Allocated 12/3 1904 Description 12 hours at $14 30 hours at $18 Amount $ 168 $ 540 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.) Materials Requisition Job 298 Date No. Description Amount Sales 11/30 437 60 lbs. rubber at $12 $ 720 Less: Cost of job 12/2 439 40 meters polyester fabric at $10 $ 400 12/3 501 100 meters steel cord at $8 $ 800 Total profit on job Number of tires Per-unit profit Print Done