Business, 05.06.2020 16:59 miwptv105own5u8

The computer workstation furniture manufacturing that Santana Rey started in January is progressing well. As of the end of June, Business Solutions's job cost sheets show the following total costs accumulated on three furniture jobs Job 602 Job 603 Job 604
Direct Materials $1,700 $3,100 $2,600
Direct labor 1,000 1,340 1,800
Overhead 500 670 900
Job 602 was started in production in May, and these costs were assigned to it in May: direct materials, $500; direct labor, $250; and overhead, $125. Jobs 603 and 604 were started in June. Overhead cost is applied with a predetermined rate based on direct labor costs. Jobs 602 and 603 are finished in June, and Job 604 is expected to be finished in July. No raw materials are used indirectly in June. (Assume this companyâ€™s predetermined overhead rate did not change over these months).

1. What predetermined overhead rate is used in June?
2. How much cost is transferred to finished goods inventory in June?

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