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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: Direct materials $1,600 1.900 Job 71 Job 72 $2,000 $850 1.30000 Aplied overhead During August, four more jobs were started. Information on costs added to the seven jobs during the month is as follows: Job 72 Job 70 o 71 5800 $1,235 53.550 Job 73 Dob 74 Job 75 Job 76 55.000 860 172 Direct materiale Director Before the end of August, Jobs 70, 72, 73, and 75 were completed. On August 31, Jobs 72 and 75 were sold. Required: 1. Calculate the predetermined overhead rate based on direct labor cost. 1% of direct labor cost. 2. Calculate the ending balance for each job as of August 31. Ending Balance Job 70 Job 71 Job 72 Job 73 5 Job $ 3. Calculate the ending balance of Work in Process as of August 31. 4. Calculate the cost of goods sold for August. 5. Assuming that Cairle prices its jobs at cost plus 20 percent, calculate Cairle's sales revenue for August