Vabrium Inc., uses a job-order costing system and a predetermined overhead rate based on machine hours. At the beginning of2018, the company estimated manufacturing overhead for the year would be $240,000 and machine hours would be 8,000. The following information pertains to September 2018: Job 10 Job 11 Job 12 Total Work-in-process, Sept. 1 September production activity: $16,000 $26,000 $38,000 $80,000 Materials used $4,000 $4,800 $7,200 $16,000 Direct labor cost $2,400 $3,600 $4,000 $10,000 Machine hours 400 700 900 2,000 Labor hours 120 180 200 500 Actual manufacturing overhead cost incurred in September was $61,000. Required: 1. Compute the predetermined overhead application rate. 2. Determine the total cost associated with each job. 3. If jobs 10 and 12 were completed, prepared the journal entry to move the cost. 4. If job 10 was delivered to customers that paid $50,000 cash, prepare the journal entries. What is the gross profit for job 10? 5. Assuming no begimring work in process, what is the cost assigned to ending work in process? 6. Assuming no beginning finished goods what is the cost assigned to ending finished goods? 7. How much was overhead over/underapplied?