In December 2019, West Corporation's manager estimated next year's total direct labor cost assuming 10 persons working an average of 2,000 hours each at an average wage rate of $20 per hour. The manager also estimated the following manufacturing overgead costs for 2020 $75,000 100,000 50.000 100,000 10,000 Need help with question * Indirect labor Factory supervision Rent on factory building Factory utilities Factory insurance Depreciation-factory equipment Repairs expense-factory equipment Factory supplies used Miscellaneous production costs Total estimated overhead costs 500,000 also please explain steps 50,000 20,000 5,000 $910,000 At the end of 2020, records show that the company incurred $850,000 of actual overhead costs. It completed and sold five jobs with the following direct labor costs: Job 100, $100,000 Job 101, $80,000 Job 102 $50,000; Job 103, $120,000; Job 104, $40,000. In addition, Job 105, is in process at the end of 2019 and had been charged $25,000 of direct labor. Direct material costs for eahc of the jobs were as follows: Job 100, $63,000; Job 101, $42,000; Job 102, $35,000; Job 103, $78,000; Job 104 $39,000; Jo 105 $45,000 No jobs were in the process at the beginning of 2020. The company's predetermined overhead rate is based on direct labor cost. 1. Determine the predetermined overhead rate for 2020. Predetermined overhead rate Estimated direct labor costs 10 persons $20 per hos 2000 hours 400000 equals Predetermined overhead rate estimated overhead costs estimated direct labor costs $910,000 400000 Predetermined overhead rate 227.50% of labor cost 2. Determine the overhead cost applied to each of the six jobs during 2020. Estimated direct labor costs 10 persons 520 per hos 2000 hours 400000 equals Predetermined overhead rate estimated overhead costs estimated direct labor costs $910,000 400000 Predetermined overhead rate 227.50% of direct labor cost Direct Material Direct Labor Overhead Applied Total Job 100 Job 101 Job 102 Hob 103 Job 104 $63,000 $42,000 $35,000 $78,000 $39,000 $100,000 $80,000 $50,000 $120,000 $40,000 $227,500 $182,000 $113,750 $273,000 $91,000 $390,500 $304,000 $198,750 $471,000 $170.000 Overhead applied Direct labor*227.50% 3. Determine the total cost of each of the six jobs at the end of 2020