Lu Technology Co. manufactures DVDs for computer software and entertainment companies. Lu uses job order costing. On June 2, Lu began production of 5,400 DVDs, Job 423, for Panorama Pictures for S1.80 sales price per DVD. Lu promised to deliver the DVDs to Panorama Pictures by June 5. Lu incurred the following direct costs: (Click the icon to view the costs.) (Click the icon to view additional information.) Read the requirements Requirement 1. Prepare a job cost record for Job 423. Calculate the predetermined overhead allocation rate (round to two decimal places); then allocate manufacturing overhead to the job. Begin by determining the total amount of direct materials and direct labor incurred on the job. Next, calculate the predetermined overhead allocation rate and apply manufacturing overhead to the job. Lastly, compute the total cost of Job 423 and the cost per DVD Job Cost Record Job No. 423 Customer Name Job Description Date Promised 6-5 Panorama 5,400 DVDs Date Started 6-2 Date Completed 6-3 Manufacturing overhead allocated Direct materials Direct labor Labor Time Requisition Number Record Number Date Amount Amount i More Info 6-2 $ 655 Amount Date Rate 6-3 130% of direct $ 140 labor cost Overall Cost Summary 260 Direct materials 372 725 520 6-2 64 6-3 74 144 656 1241 Lu Technology allocates manufacturing overhead to jobs based on the relation between estimated overhead of $637,000 and estimated direct labor costs of S490,000. Job 423 was completed and shipped on June 3. 400 Direct labor Manufacturing overhead Allocated 520 Print Done 2161 Total Job Cost 400 cost per DVD Totals 1241 .40 Requirement 2 Joumaize in summary for the requisition of direct materials and the assignment drant lahor and the allocation of marutaduring overed to Joh 423. Wages are not yet paid. Rarard debits Arst, then credits. Exclude explanations from any jumal entries. Start ty jaurnalzing the use of direct materias Date Accounts Debit Credit Jun. 3 i Data Table Date Labor Time Record No. Next, orice the use of druct labor Date Description Amount 10 hours $14 per hour S 140 20 hours $13 per hour Accounts Debit B/02 6/03 Credit 658 280 Jun 3 Materials Requisition No. Date 6/02 63 Description 31 lbs.polycarbonate plastic @ $12 per b. 25 los acryllo plastic 529 perib. 3 los. nefined aluminum @ $40 perib Amount $ 372 725 144 GIOZ 64 Non Journalbe the allocation of overhead to Joh 423 6/03 74 Date Account Debit Credit Jun 3 Print Dane