Job Costs Using a Plantwide Overhead Rate Naranjo Company decigns industrial prototypes for outside companies. Budpeted overhead for the vear was $225,000, and budgeted direct labor hours were 15,000 . The average wage rate for direct labor is expected to be $30 per hour. During lune, Naranjo Company worked on four jobs. Data relating to these four jobs follow: Overhead is assigned as a perceritage of direct labor cost. During June, Jobs 39 and 40 were completed; 30639 was sold at 110 percent of cost. (Naranjo had originally developed 3ob 40 to order for a customer: howeves, that customer was near bankruptcy and the chance of Naranjo being paid Was arowing dimmer. Naranjo dedded to bold Job 40 in ifentary while the customer worked out its finandiat difficulties. Job 40 is the only job in Finished Goods tiveritory.) Jotro 41 and 42 remain unfinished at the end of the month. Required: 1. Calculate the overhead rate based on direct labor cost. W of oired labor coct 2. Set op a simple job-order cot sheet for all jobs in arocess during kine. Naranje Campany 1. Caculate the overnead rate sased on aired abor cont. \% of direct labor cost 2. Set up a simple job-order coet sheet for all jobs in seoceis durlsy June. Noranje Company Job Order Cost sheets 3. What if the expected dired labor rate at the beginving of the year was 524 hitead of 2307 what would the avertead rate be? If required, round your overhead rate anower to one decimal place. New budoeted dired labor cost - New overhead rate - How would the cous of the jobs be affected