Lorenzo Company applies overhead to jobs on the basis of direct materials cost. At year-end, the Work in Process inventory account shows the following Date Credit Work in Process Inventory Explanation Debit Dec. 31 Direct materials cost 2, 103, 31 Direct labor cost 230. 31 Overhead applied 340, BD 31 To finished goods Balance 2,000,000 2,238,00 3,078, 91,090 2.979,00 1. Determine the predetermined overhead rate used based on direct materials cos). 2. Only one job remained in work in process inventory at December 31. its direct materials cost is $33,000 How much direct labor cost and overhead cost are assigned to this job? Complete this question by entering your answers in the tabs below. Required: Required 2 Determine the predetermined overhead rate used based onder 8 Choose Numerator Choose Denominator Overhead Rate Overhead rane Lorenzo Company applies overhead to jobs on the basis of direct materials cost. At year-end, the Work in Process Inventory acco shows the following Credit Work in Process Inventory Date Explanation Debit Dec. 31 Direct materials cost 2,000,000 31 Direct labor cost 230,000 31 Overhead applied 840,000 31 to finished goods Balance 2.800,000 2, 230, 800 3,070, BOD 91.000 2.979,00 1. Determine the predetermined overhead rate used based on direct materials couth 2. Only one job remained in work in process inventory at December 31. Its direct materials cost is $33.000. How much direct labor and overhead cost are assigned to this job? Complete this question by entering your answers in the tabs below. Required 1 Only one job remained in work in process inventory at December 31. Its direct materials cost is $31.000. How much dires labor cost and overhead contare assigned to this job? Total cost offcn process Drect labor cost