! Required information Problem 15-1A (Algo) Computing job costs and overhead rate; assigning costs to inventory LO C1, P3 [The following information applies to the questions displayed below.] At the end of June, the job cost sheets at Ace Roofers show the following costs accumulated on three jobs. At June 30 Direct materials Direct labor Overhead applied Additional Information Job 5 $ 17,200 10,200 5,100 Job 6 $ 34,100 16,400 8,200 Job 7 $ 28,100 23,200 11,600 a. Job 5 was started in May, and the following costs were assigned to it in May: direct materials, $7,100; direct labor, $2,900; and applied overhead, $2,000. Job 5 was finished in June. b. Job 6 and Job 7 were started in June; Job 6 was finished in June, and Job 7 is to be completed in July. c. Overhead cost is applied with a predetermined rate based on direct labor cost. The predetermined overhead rate did not change across these months. 3. What is the predetermined overhead rate? Predetermined overhead rate %