Memory Construction, Inc. is a home builder in Arizona Memory uses a job order costing system in which each house is a job. Because it constructs houses, the company uses an account titled Construction Overhead. The company applies overhead based on estimated direct labor costs. For the year, it stimated construction overhoud of 1.200,000 and total direct labor cost of $6,000,000. The following events occurred during Augusti (Click the icon to view the events.) Read the regiments Requirement 1. Calculate Memory's predetermined overhead allocation rate for the year, Predetermined overhead allocation rate More Info a. Purchased materials on account. 5480.000 b. Requisitioned direct materials and used direct labor in construction Recorded the materials requisitioned Direct Materials Direct Labor House 102 5 50,000 $ 40.000 House 403 54.000 36,000 House 404 61.000 56.000 House 405 36,000 54,000 c. The company incurred total wages of $300,000. Use the data from item to assign the wages Wages are not yet paid. d. Depreciation of construction equipment, 56,700 Other overhead costs incurred: Equipment rentals paid in cash, $36,000; Worker liability insurance expired, 50,000 1. Allocated overhead to jobs 9. Houses completed: 402, 404 Houte sold on account:404 for $260.000 V ANSVAR