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Preparing job cost sheet for computing costs of jobs and providing related journal entries. Oak Tree LLC manufactures custom furniture and use job order costing. During the month of March, the company started working on Job 303 , which involves making 1,000 chairs for Prestige LLC at an agreed price of $110 per chair. The following job order costs were incurred on job 303 : Oak Tree use direct labor hours (DLH) as their allocation base for alocating MOH. Estimated MOH for the year $350,000 Estimated DLH for the year 7,000 hours a) Calculate the company's predetermined overhead allocation rate. b) complete the job order cost sheet for Job 303 c) Prepare journal entries that record each of the following transactions: i) The transfer of direct materials from the warehouse for use on job 303 ii) The direct labor costs used on job 303 iii) Allocating manufacturing overhead to job 303 using the predetermined overhead rate. iv) The completion of the job and the storage of the chairs as finished goods inventory. v) Recognizing the sale of the job to the customer for $110 per chair. Assume the customer pays in cash. vi) Recognizing the cost of goods sold for the job after the finished chairs are delivered to the customer