Job cost sheets for Wildhorse Manufacturing are as follows: (a1) Your answer is correct. What was the balance in Work in Process Inventory on July 1 if these were the only unfinished jobs? What was the predetermined overhead rate in June if overhead was applied on the basis of direct labor cost? Predetermined overhead rate % If July is the start of a new fiscal year and the overhead rate is 20% higher than in the preceding year, how much overhead should be applied to Job 210 in July? Overhead applied in July $