Cornerstone Exercise 16-26 (Algorithmic) Prepare Job-Order Cost Sheets, Predetermined Overhead Rate, Ending Balance of WIP, Finished Goods, and COGS At the beginning of June, Rhone Company had two jobs in process, Job 44 and Job 45, with the following accumulated cost information: Direct materials Direct labor Applied overhead Balance, June 1 During June, two more jobs (46 and 47) were started. The following direct materials and direct labor costs were added to the four jobs during the month of June: Job 44 Job 45 $5,300 $1,900 3,000 1,950 $7,280 6,850 1,200 780 Job 44 Job 45 Job 46 Job 47 Direct materials Direct labor $2,500 $7,110 $1,800 $1,700 560 800 6,400 900 At the end of June, Jobs 44, 45, and 47 were completed. Only Job 45 was sold. On June 1, the balance in Finished Goods was zero. 1. Calculate the overhead rate based on direct labor cost. Round your answer to one decimal place