Lorenzo Company uses a job order costing system that charges overhead to iob material cost. At year-end, the Work in Process Inventory account shows the follown the basis following. Work in Process Inventory Acct. No. 121 Debit Credit Balance Date Explanation 1,500,000 300,000 600,000 2015 5 Dec. 31 31 31 31 Direct materials cost Direct labor cost Overhead applied To finished goods 1,500,000 1800,000 2,400,000 50,000 2,350,000 1. Determine the predetermined overhead rate used (based on direct material cost). 2. Only one job remained in work in process inventory at December 31, 2015. Its direct materials costi $30,000. How much direct labor cost and overhead cost are assigned to this job