ork 0 orenzo Company uses a job order costing system that charges overhead to jobs on the basis of direct materials cost. At year Vork in Process Inventory account shows the following bate Explanation bebit Credit Balance 2017 Dec 31 Direct materials cont 1,900,000 1,900,000 31 Direct labor cost 220,000 2, 120,000 31 Overhead applied 874,000 31 To tinished goods 2,994,000 2,901,000 93,000 1. Determine the predetermined overhead rate used (based on direct materials cost). 2. Only one job remained in work in process inventory at December 31, 2017. Its direct materials cost is $38,000. 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 on direct material cost), Overhead Rate 1 Choose Denominator: Overhead Rate Overhead rate Choose Numerator Required 2 > 2. Only one labor cost and overhead cost are assign Complete this question answers in the tabs below. Only and in work in process story t December 31, 2017 is direct materials cost is $38,000How much or cost and the cost are signed to this job