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 Job 70 Job 71 72 Direct materials $1,700 $2,000 $850 Direct labor 1,900 1,400 900 Applied 1,520 1,120 720 overhead During August, four more jobs were started. Information on costs added to the seven jobs during the month is as follows: Job Job Job Job Job 71 Job 72 Job 73 70 74 75 76 Direct $800 $1,235 $3,500 $5,000 $300 $560 $80 materials Direct labor 1,000 1,400 2,200 1,800 600 900 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 180 Job 70 $ Job 71 $ Job 72 $ Job 73 $ 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 10 percent, calculate Cairle's sales revenue for August