Ch 15 Homework Help Save & Exit Check 12 Lorenzo Company applies overhead to jobs on the basis of direct materials cost. At year-end, the Work In Process Inventory account shows the following Date 10 points Work in Process Inventory Explanation Debit Credit Dec. 31 Direct materials cost 1,000,000 31 Direct labor cost 230,000 31 Overhead applied 460,000 31 to finished goods 1,607,000 Balance 1,000,000 1,230,000 1,690,000 83,000 Book 1. Determine the predetermined overhead rate used (based on direct materials cost) 2. Only one job remained in work in process inventory at December 31. Its direct materials cost is $26,000. How much direct labor cost and overhead cost are assigned to this job? Complete this question by entering your answers in the tabs below. Required Required 2 References Determine the predetermined overhead rate used (based on direct materials cost), Overhead Rate Choose Denominator: Choose Numerator: Overhead Rate Overhead role 1 Required 2 > Ch 15 Homework Saved Help Save Ch 12 Lorenzo Company applies overhead to jobs on the basis of direct materials cost. At year-end, the Work in Process Inventory account shows the following 10 points Work in Process Inventory Date Explanation Debit Credit Dec. 31 Direct nateriale cost 1,000,000 31 Direct labor cost 230,000 31 Overhead applied 460,000 31 to finished goods 1,607,000 Balance 1.000.000 1,230,000 1,690,000 83,000 och 1. Determine the predetermined overhead rate used (based on direct materials cost). 2. Only one job remained in work in process inventory at December 31, its direct materials cost is $26,000. How much direct labor cost and overhead cost are assigned to this job? Complete this question by entering your answers in the tabs below. o Required 1 Required Only one job remained in work in process inventory at December 31. Its direct materials cost is $26,000. How much direct labor cost and overhead cost are assigned to this job? Total cost of job in process Direct labor con