At the end of June, the job cost sheets of Racing Wheels, Inc., shows the following total costs accumulated on three custom jobs:Job 102 Job 103 Job 104Direct Materials $15,000 $33,000 $27,000Direct Labor 8,000 14,200 21,000Overhead 4,000 7,100 10,500Job 102 began production in May, and the following costs were assigned to it in May: direct materials $6,000; direct labor $1,800; and overhead $900. Jobs 103 and 104 began in June. One applies overhead cost with a predetermined rate based on direct labor cost. Jobs 102 and 103 are finished in June, and Job 104 is expected to be finished in July. No raw materials are used indirectly in June. Using this information, answer the following questions:What is the cost of the raw materials requisitioned in June for each of the three jobs? How much direct labor cost is incurred during June for each of the three jobs? What predetermined overhead rate is used during June? How much total cost is transferred to finished goods during June?
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