Required information Problem 2-1A (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 Direct materials $ 15,600 $ 33,300 Job 7 $ 27,300 Direct labor Overhead applied 8,600 4,300 14,800 7,400 21,600 10,800 Additional Information a. Job 5 was started in May, and the following costs were assigned to it in May: direct materials, $6,300; direct labor, $2,100; and applied overhead, $1,200. 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. Problem 2-1A (Algo) Part 3 3. What is the predetermined overhead rate? Predetermined overhead rate %