Grayson Company is a manufacturer that uses the job order cost system. Production for January. Requisitioned materials: 200 units for Job 101 at $12 per unit. 300 units for Job 102 at $14 per unit. Accumulated direct labor cost: 700 hours Job 101 at $16 per hour. 600 hours Job 102 at $12 per hour. Grayson Company estimates total factory overhead costs will be $100,000 for the year. Direct labor hours estimated to be 25,000. Company had two completed jobs at end of January Jobs 101 and 102. Job 101 700 Direct Labor hours 500 Units Produced ~Job 102 600 DL hours 1000 Units Produced Using the information provided, determine 1) The pre-determined factory overhead rate using direct labor hours as the activity base 2) The amount of factory overhead applied to Job 101 and job 102. Prepare the Job Cost Sheets for Job 101 and 102. Calculate the unit costs for Job 101 and 102. Prepare the journal entries for the total requisition of direct materials and the assignment of direct labor and the allocation of factory overhead during January. Wages are not yet paid. Journalize the completion of the Job 101 and 102. Journalize the sale of Job 101 at a selling price of $50 per unit for cash.