Work in Process Inventory Date Explanation Debit Credit Dec. 31 Direct materials cost 1,100,000 31 Direct labor cost 240,000 31 Overhead applied 495,000 31 To finished goods 1,745,000 Balance 1,100,000 1,340,000 1,835,000 90,000 1. Determine the predetermined overhead rate used (based on direct materials cost). 2. Only one job remained in work in process inventory at December 31. Its direct materials cost is $38,000. How much direct labor cost and overhead cost are assigned to this job? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the predetermined overhead rate used (based on direct materials cost). Overhead Rate Choose Numerator: 1 Choose Denominator: = Overhead Rate / Overhead rate = Required 1 Required 2 > Required 1 Required 2 .................................................. ................................................................... Only one job remained in work in process inventory at December 31. Its direct materials cost is $38,000. How much direct labor cost and overhead cost are assigned to this job? Total cost of job in process Direct labor cost