Data Table Date 4/30 5/3 Labor Time Record No 1896 1904 Description 12 hours at $16 30 hours at $20 Amount $ 192 $ 600 Date 4/30 5/2 5/3 Materials Requisition No 437 439 501 Amount S 840 S 400 S 800 Description 60 lbs. rubber at $14 40 meters polyester fabric at $10 100 meters steel cord at $8 Print Done Sloan Tire manufactures tires for a-terrain vehicles. Sloan uses job costing and has a perpetual inventory system. On April 22, Sloan received an order for 150 TX tires from ATV Corporation at a price of $60 each. The job, assigned number 298, was promised for May 10. After purchasing the materials, Sloan began production on April 30 and incurred the following direct labor and direct materials costs in completing the order E (Click the icon to view the costs) Sloan allocates manufacturing overhead to jobs on the basis of the relation between expected overhead costs ($460,000) and expected direct labor hours (23,000). Job 298 was completed on May 3 and shipped to ATV on May 5 Requirement 1. Prepare a job cost record for Job 298. Calculate the predetermined overhead rate, then apply manufacturing overhead to the job. Begin by identifying the formula and computing the predetermined overhead rate Predetermined overhead rate per hour Complete the job cost record in order of direct materials, direct labor, and allocated manufacturing overhead. Then prepare the overall cost summary (List the dates in chronological order. Enter the labor time records in the correct row according to date. Complete only necessary answer boxes. If a box is not used in the table leave the box empty, do not enter a zero.) Job Cost Record Job No. 298 Customer Name ATV Corporation 50 TX tires Job Description Date Promised 5-10 Date Started 4-30 Date Completed 5-3 Direct Materials Direct Labor Manufacturing Overhead Allocated Labor Time Record Number Requisition Date Number Amount Amount Date Rate Amount 20XX per direct labor hr Overall Cost Summary Direct Materials Direct Labor Manufacturing Overhead Allocated Total Job Cost Totals Requirement 2. Calculate the total profit and the per-unit profit for Job 298. (Round your answer to two decimal places.) Job 298 Sales Less: Cost of job Total profit on job Number of tires Per-unit profit