As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs Direct materials Direct labor Overhead applied Job 102 $21,000 15,000 5,250 Job 103 $68,000 25,300 8,855 Dob 104 $5e, een 40, eee 14,000 Job 102 was started in production in May and the following costs were assigned to it in May direct materials, $15,000, direct labor $2,800; and overhead $980 Jobs 103 and 104 were started in June Overhead cost is applied with a predetermined rate based on direct labor cost Jobs 102 and 103 were finished in June, and Job L34 is expected to be finished in July No raw materials were used indirectly in June Using this information, answer the following questions (Assume this company's predetermined overhead rate did not change across these months.) 1&2. Complete the table below to calculate the cost of the raw materials requisitioned and direct labor cost incurred during June for each of the three jobs? 3. Using the accumulated costs of the jobs, what predetermined overhead rate is used? 4. How much total cost is transferred to finished goods during June? Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3 Req 4 Complete the table below to calculate the cost of the raw materials requisitioned and direct labor cost incurred during June for each of the three jobs? Direct Materials Job May June Total 102 103 104 Total Direct Labor Job May June Total 102 103 104 Total Req 1 and 2 Req 3 Req 4 Using the accumulated costs of the jobs, what predetermined overhead rate is used? Overhead Rate 7 Choose Numerator: Choose Denominator: Overhead Rate Job 102 11 Overhead rate = Job 103 11 Overhead rate - Job 104 11 Overhead rate Req 1 and 2 Req 3 Req 4 How much total cost is transferred to finished goods during June? Applied Overhead Job Cost Transferred to Finished Goods Total Cost Direct Direct Materials Labor $ 21,000 $ 15,000 102 103 68,000 25,300 104 50,000 40,000 Total $ 80,300