Job 303 includes direct materials costs of $550 and direct labor costs of $400. If the predetermined overhead allocation rate is 40% of direct labor cost, what is the total cost assigned to Job 303? Rosco Company estimates the company will incur $80, 750 in overhead costs and 4, 750 direct labor hours during the year. Actual direct labor hours were 4, 600. Calculate the predetermined overhead allocation rate using direct labor hours as the allocation base, and prepare the journal entry for the allocation of overhead. Lincoln Company completed jobs that cost $38,000 to produce. In the same period, the company sold jobs for $88,000 that cost $42,000 to produce. Prepare the journal entries for the completion and sales of the jobs. All sales are on account