Please answer the following question. JOB ORDER COSTING The company "Homes for Us" manufactures houses. The company is labor intensive and allocates overhead based on labor hours. "Homes for Us" expects to incur S400,000 of manufacturing overhead costs and to use 8.000 labor hours during 2018. "Homes for Us" had no beginning inventory. It recorded the following transactions during January Purchased direct materials (on account) for $85,000 Purchased indirect materials (on account) for $12,000 Incurred other manufacturing overhead cost on account) for $15.000 Used direct materials - S60,000 Incurred direct labor costs-550.000 Used $4,000 of the indirect materials that was purchased in #2) Allocated manufacturing overhead for January The company actually used 400 machine hours in January Requirements: 1] Calculate the Pre-determined Manufacturing Overhead Rate. 2] Record the Journal Entries for the purchase of materials & overhead (items 1, 2 & 3) 3] Record the Journal Entries for use of direct materials and labor (items 14 & #5) 4] Record the Journal Entry for allocation of overhead 5] Record the journal entry to close the allocated balance of the overhead account