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Computing job costs and overhead rate; assigning costs to inventory C1 P3 At the end of June, the job cost sheets at Ace Roofers show the following costs accumulated on three jobs. Additional information a. Job 5 was started in May, and the following costs were assigned to it in May: direct materials, S6,000; direct labor, $1,800; and applied overhead, 5900. Job 5 was finished in June, b. Job 6 and Job 7 were started in June Job 6 was finished in June, and Job 7 is to be completed in July, c. Overhead cost is applied with a predetermined rate based on direct labor cost. The predetermined overhead rate did not change across these months Required 1. What is the total cost of direct materials requisitioned in June? 2. What is the total cost of direct labor used in June? 3. What is the predetermined overhead rate? 4. What is the total cost transferred to Finished Goods Inventory in June? page 703 At June 30 Job 5 Job 6 Job 7 Direct Materials $15,000 $33,000 $27,000 Direct Labor 8,000 14,200 21,000 Overhead applied 4,000 7,100 10,500