Ye Technology Co. manufactures DVDs for computer software and entertainment companies. Ye uses job order costing. On November 2, Ye began production of 5,900 DVDs, Job 423, for Panorama Pictures for $1.10 sales price per DVD. Ye promised to deliver the DVDs to Panorama Pictures by November 5. Ye incurred the following direct costs:LOADING...(Click the icon to view the costs.) LOADING...(Click the icon to view additional information.)Read the requirements LOADING... Data table Date Labor Time Record No. Description Amount 11/02 655 10 hours @ $16 per hour $160 11/03 656 20 hours @ $15 per hour 300 Date Materials Requisition No. Description Amount 11/02 63 31 lbs. polycarbonate plastic @ $13 per lb. $403 11/02 64 25 lbs. acrylic plastic @ $28 per lb. 700 11/03 74 3 lbs. refined aluminum @ $45 per lb. 135 More info Ye Technology allocates manufacturing overhead to jobs based on the relation between estimated overhead of $495,000 and estimated direct labor costs of $450,000. Job 423 was completed and shipped on November 3. Requirements 1. Prepare a job cost record for Job 423. Calculate the predetermined overhead allocation rate (round to two decimal places); then allocate manufacturing overhead to the job. 2. Journalize in summary form the requisition of direct materials and the assignment of direct labor and the allocation of manufacturing overhead to Job 423. Wages are not yet paid. 3. Journalize completion of the job and the sale of the 5,900 DVDs on account. . Question content area bottom Part 1 Requirement 1. Prepare a job cost record for Job 423. Calculate the predetermined overhead allocation rate (round to two decimal places); then allocate manufacturing overhead to the job. Begin by determining the total amount of direct materials and direct labor incurred on the job. Next, calculate the predetermined overhead allocation rate and apply manufacturing overhead to the job. Lastly, compute the total cost of Job 423 and the cost per DVD. Part 2 Requirement 2. Journalize in summary form the requisition of direct materials and the assignment of direct labor and the allocation of manufacturing overhead to Job 423. Wages are not yet paid. (Record debits first, then credits. Exclude explanations from any journal entries.) Start by journalizing the use of direct materials. Date Accounts Debit Credit Nov. 3 Part 3 Next, journalize the use of direct labor. Date Accounts Debit Credit Nov. 3 Part 4 Now journalize the allocation of overhead to Job 423. Date Accounts Debit Credit Nov. 3 Part 5 Requirement 3. Journalize completion of the job and the sale of the 5,900 DVDs on account. (Record debits first, then credits. Exclude explanations from any journal entries.) Begin by preparing the entry to show the completion of the job. Date Accounts Debit Credit Nov. 3 Part 6 Next, journalize the revenue portion of the sale of Job 423. Date Accounts Debit Credit Nov. 3 Part 7 Finally, journalize the cost of goods portion of the sale. Date Accounts Debit Credit Nov. 3