jobs in procese manufactures special purpose machines to orded to these jo jobs in process, #705 and #706. The following purpose machines to order. On January 1, there were two wing costs were applied to these jobs in the prior year: Direct material Direct labor Overhead Job No. 705 $ 5,000 4,000 4,400 $13,400 706 $ 8,000 3,000 3,300 $14, 300 Total During January, the following transactions took place: Raw material costing $40,000 was purchased on account. Jobs #707, #708, and #709 were started an Vo, and #709 were started and the following costs were applied to win: JOB 707 708 709 Direct materials $3,000 $10,000 $7,000 Direct labor 5,000 6,000 4,000 105 and Job #706 were completed after incurring additional direct labor costs of $2,000 and $4,000, respectively Wages paid to production employees during January totaled $21,000. Depreciation for the month of January totaled $10,000. Utilities bills in the amount of $12,000 were paid. Miscellaneous overhead expenses totaled $24,000 for January. Supplies costing $2,000 were used. Actual overhead is applied to individual jobs at the end of each month using a rate based on actual direct labor costs. Required: Determine the January overhead rate. Determine the cost of job #705. Determine the cost of job #706