Required Information Problem 15-1A (Algo) Computing job costs and overhead rate; assigning costs to inventory LO C1, P3 The following information applies to the questions displayed below. At the end of June, the job cost sheets at Ace Roofers show the following costs accumulated on three jobs. At June 30 Job 5 Job 6 Job 7 $ 15,200 $ 33, 100 $ 27,100 14,400 Overhead applied 7,200 10,600 Additional Information a. Job 5 was started in May, and the following costs were assigned to it in May, direct materials, $6,100; direct labor, $1,900; and applied overhead, $1,000. 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. Direct materials Direct labor 21,200 8,200 4,100 Problem 15-1A (Algo) Part 3 3. What is the predetermined overhead rate? Predetermined overhead rate %