Homework: Job Order Costing Assignment 0 Saved 'lO Lorenzo Companyr applies overhead tojobs on the basis of direct materials cost, At yearend, the Work in Process Inventory account shows the following. 3 Mark in Process Inventory points Debit Credit Beginning 6 Direct materials used 1,566,606 Direct labor used 256,666 a Overhead 555,600 eEgok 2,227,666 Cost of oods manufactured Ending 78,666 Him 1. Determine the predetermined overhead rate used (based on direct materials cost}. 7. Only onejob remains in work in process inventory at year-end. Its direct materials cost is $22,000. How much direct labor cost and applied overhead are assigned to thisjob? it! Print IE Complete this question by entering your answers in the tabs below. References Required 1 Required 2 Determine the predetermined overhead rate used (based on direct materials cost). Overhead rate Required 2 ) Required 1 Required 2i Only one job remains in work in process inventory at year-end. Its direct materials cost is $22,000. How much direct labor cost and applied overhead are assigned to this job? Dire cl labor cost ( Required 1