Exercise 19-19 (Static) Analyzing costs assigned to work in process LO P3 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. 1. Determine the predetermined overhead rate used (based on direct materials cost) 2. Only one job remains in work in process inventory at year-end. its direct materials cost is $30,000. How much direct labor cost and applied overhead are assigned to this job? Answer is not complete. Complete this question by entering your answers in the tabs below. Determine the predetermined overhead rate used (based on dicect materials cost). Exercise 19-19 (Static) Analyzing costs assigned to work in process LO P3 Locenzo Company applies overhead to jobs on the basis of direct materials cost. At year-end, the Work in Process inventory account shows the following 1. Determine the predetermined overhead rate used (based on direct materials cost). 2. Only one job remains in work in process inventory at year-end. its direct materials cost is 530,000 . How much direct labor cost and applied overhead are assigned to this job? Answer is not coasplete. Complete this question by entering your answers in the tobs below. Only one j06 remains in bork in process invent ory as year-end. Its direct materials post is $30,000, How much direct laboe cost and applied everhead are assigned to this job