LO.4 (Cost accumulation; assigning costs to jobs) Mystic Inc. uses a job order costing system and applies overhead to jobs at a predetermined rate of $4.25 per direct labor dollar. During April 2010, the company spent $29,600 on direct material and $3,900 on direct labor for Job #344. Budgeted factory overhead for the company for the year was $1,275,000. a. How did Mystic Inc. compute the predetermined overhead rate for 2010? b. Journalize the application of overhead to all jobs, assuming that April