Technology, Co. manufactures CDs and DVDs for computer software and entertainment companies. Lu uses job order costing On April 2, Lu began production of 5,900 DVDs, Job 423, for Stick People Pictures for $1.30 sales price per DVD. Lu promised to deliver the DVDs to Stick People by April 5. Lu incurred the following costs: Date 4/02 4/03 Labor Time Record No. Description Amount 655 656 10 hours $14 per hour 140 260 20 hours@$13 per hour Materials Date Requisition No. 4/02 4/02 4/03 Description Amount 63 64 74 $341 675 126 31 lbs. polycarbonate plastic@ $11 per Ib. 25 lbs. acrylic plastic $27 per lb. 3 lbs. refined aluminum@ $42 per lb Stick People provides the movie file for Lu to burn onto the DVDs at a cost of $0.50 per DVD. Lu Technology allocates manufacturing overhead to jobs based on the relation between estimated overhead of $540,000 and estimated direct labor costs of $432,000. Job 423 was completed and shipped on April 3. Requirements 1. Prepare a job cost record for Job 423. Calculate the predetermined overhead allocation rate; then allocate manufacturing overhead to the job. 2. Journalize in summary form the requisition of direct materials (includ- ing the movie files) and the assignment of direct labor and the allocation of manufacturing overhead to Job 423. 3. Journalize completion of the job and the sale of the 5,900 DVDs