PROBLEMS Overhead Application and Job-Order Costing direct labor hours. Estimated information for the year is as follows: m 5-46 ion Company is a job-order costing firm that uses a plantwide overhead rate based on OBJECTIVE Overhead Direct labor hours $789,000 100,000 Heurion worked on five jobs in July. Data are as follows: Job 741 $29,870 $61,300 Job 742 Job 743 Job 744 Job 745 Balance, July 1 Direct materials Direct labor cost Direct labor hours S55,215 $27,880 SO SO $25,500 $39,800 $14,450 $13,600 $8,420 $48,500 $28,700 $24,500 $21,300 1,400 4,000 3,400 1,980 1,600 By July 31, Jobs 741 and 743 were completed and sold. The remaining jobs were in process. Continued Chapter 5 Job-Order Costing Required: 1. Calculate the plantwide overhead rate for Heurion Company. (Note: Round to the nearest cent) 2. Prepare job-order cost sheets for each job showing all costs through July 31. (Note: Round 3. 4. all amounts to the nearest dollar.) Calculate the balance in Work in Process on July 31. Calculate Cost of Goods Sold for July