Homework: Chapter 17 Homework (Copy) Score: 0 of 1 pt 3 of 4 (3 complete) XP17-30A (similar to) Sherborn Construction, Inc. is a home builder in Arizona. Sherborn uses a job order costing system in which each house is a job. Because it constructs houses, the company uses an account sed Constr direct labor costs. For the year, estimated construction overhead of S1,300,000 and total direct labor cost of $2,600.000. The following events occurred during August (Click the icon to view the events.) Read the requirements 1 More Info Requirement 1. Calculate Sherbor's predetermined overhead allocation rate for the year Predetermined overhead Estimated overhead cost Estimated direct labor cost allocation rate a. Purchased materials on account, 5480,000 Recorded the materials requisitioned. Direct Materials Direct Labor House 402 $ 55,000 $ 43.000 House 403 63.000 37,000 House 404 61,000 53,000 House 405 81.000 51 000 C. The company incurred total wages of $200,000. Use the data from Item b to assign the wages Wages are not yet paid d. Depreciation of construction equipment, 56,300 e. Other overhead costs incurred. Equipment rentals paid in cash $39,000, Worker liability insurance expired, 57.000 f. Allocated overhead to jobs. 9. Houses completed. 402, 404 h. House sold on account 404 for $270,000 Choose from any list or enter any number in the input fields and then click Check Answer 14 pars Print Done 1 remaining Type here to search