Predetermined Overhead Rate, Application of Overhead to Jobs, Job Cost, Unit Cost On August 1, Cairle Company's work-in-process inventory consisted of three jobs with the following costs: Job 70 Job 71 Job 72 Direct materials $2,000 $850 Direct labor $1,500 1,900 1,520 900 1,200 960 Applied overhead 720 During August, four more jobs were started. Information on costs added to the seven jobs during the month is as follows: Direct materials Job 70 $800 1,000 Job 71 $1,235 1,400 Job 72 $3,500 2,200 Job 73 $5,000 1,800 Job 74 $300 600 Job 75 $560 850 Job 76 $80 180 Direct labor Before the end of August, Jobs 70, 72, 73, and 75 were completed. On August 31, Jobs 72 and 75 were sold. Required: 1. Calculate the predetermined overhead rate based on direct labor cost. % of direct labor cost. 2. Calculate the ending balance for each job as of August 31. Ending Balance Job 70 Job 71 Job 74 Job 75 Job 76 3. Calculate the ending balance of Work in Process as of August 31. 4. Calculate the cost of goods sold for August. 5. Assuming that Cairle prices its jobs at cost plus 20 percent, calculate Cairle's sales revenue for August