Prepare Job-Order Cost Sheets, Predetermined Overhead Rate, Ending Balance of WIP, Finished Goods, and COGS At the beginning of June, Rhone Company had two jobs in process, Job 44 and Job 45, with the following accumulated cost information: Direct materials Direct labor Applied overhead Balance, June 1 Job 44 Job 45 $5,000 $1,500 1,500 2,500 975 1,625 $5,625 $7,475 During June, two more jobs (46 and 47) were started. The following direct materials and direct labor costs were added to the four jobs during the month of June: Direct materials Direct labor Job 44 $2,200 720 Job 45 Job 46 Job 47 $7,190 $1,950 $1,750 6,300 900 500 At the end of June, Jobs 44, 45, and 47 were completed. Only Job 45 was sold. On June 1, the balance in Finished Goods was zero. Required: 1. Calculate the overhead rate based on direct labor cost. The overhead rate based on direct labor cost is % 2. Prepare a brief job-order cost sheet for the four jobs. Show the balance as of June 1 as well as direct materials and direct labor added in June. Apply overhead to the four jobs for the month of June, and show the Previous Next < Required: 1. Calculate the overhead rate based on direct labor cost. The overhead rate based on direct labor cost is %. 2. Prepare a brief job-order cost sheet for the four jobs. Show the balance as of June 1 as well as direct materials and direct labor added in June. Apply overhead to the four jobs for the month of June, and show the ending balances. All amount cells must have an entry; enter zeros as needed. Rhone Company Job-Order Cost Sheets For the Month of June Job 44 Job 45 Job 46 Job 47 Beginning balance, June 1 $ Direct materials Direct labor Applied overhead Total, June 30 3. Calculate the ending balances of Work in Process and Finished Goods as of June 30. Work in Process: Finished Goods: 4. Calculate the Cost of Goods Sold for June. Cost of Goods Sold: Previous Next