Job 45 Prepare Job-Order Cost Sheets, Predetermined Overhead Rate, Ending Balance of WIP, Finished Goods, and COGS At the beginning of June, Rhone Company had two jobs in process, Job 44 and Job 45, with the following accumulated cost information: Job 44 Direct materials $4,950 $1,350 Direct labor 2,700 Applied overhead 1,485 Balance, June 1 $6,345 $5,535 During June, two more jobs (46 and 47) were started. The following direct materials and direct labor costs were added to the four jobs during the month of June: 900 495 Job 45 Job 47 $1,600 940 520 Job 44 Job 46 Direct materials $2,350 $7,200 $1,850 Direct labor 740 6,500 At the end of June, Jobs 44, 45, and 47 were completed. Only Job 45 was sold. On June 1, the balance in Finished Goods was zero. Required: 1. Calculate the overhead rate based on direct labor cost. The overhead rate based on direct labor cost is %. 2. Prepare a brief job-order cost sheet for the four jobs. Show the balance as of June 1 as well as direct materials and direct labor 2. Prepare a brief job-order cost sheet for the four jobs. Show the balance as of June 1 as well as direct materials and direct labor added in June. Apply overhead to the four jobs for the month of June, and show the ending balances. All amount cells must have an entry; enter zeros as needed. Rhone Company Job-Order Cost Sheets For the Month of June Job 44 Job 45 Beginning balance, June 1 st Direct materials Direct labor Applied overhead Total, June 30 Job 46 Job 47 3. Calculate the ending balances of Work in Process and Finished Goods as of June 30. Work in Process: Finished Goods: 4. Calculate the cost of Goods Sold for June. Cost of Goods Sold