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: During August, four more jobs were started. Information on costs added to the seven jobs during the month is as follows Before the end of August, Jobs 70, 72, 73, and 75 were compieted. On August 31, Jobs 72 and 75 were sold. Required: 1. Calculate the predetermined overhead rate based on direct lobor cost. % of direct labor cost. 2. Calculate the ending baiance for each job as of August 31 . 3. Calculate the ending balance of Work in Process as of August 31. 5 4. Calculate the cost of goods sold for Asgust. 5. Assuming that Cairle prices its jobs at cost plus 25 percent; calculate Cairle's sales revenue for fugust. 1 Fesosect Theck My Wox 1. Predetermined OH rate = budgeted OH costs budgeted amount of driver (direct labor) 2. Each job should have a balance and the costs that were added during the month including overhead