Managerial Accounting - predetermined overhead

ABC Company uses a job-order costing system and a predetermined overhead rate based on machine hours. At the beginning of the year, the company estimated the followings: $ Factory overhead Machine hours 50,000 8,000 The following information pertains to December of the current year: Work-in-Process, December 1 Materials requisitioned Direct labor cost Actual machine hours Job 101 Job 201 $ 6,000 $ 2,500 $ $ 1,200 $ 800 $ $ 1,000 $ 400 $ 300 200 Job 301 1,500 650 250 100 Actual manufacturing overhead incurred in December 5,000 The Company bills completed job at cost plus 50%. a) Compute the predetermined overhead application rate. b) Determine the costs of the three jobs. c) If Job 101 was completed, what is the balance of Work-in-process