Following is partial information for Delamunte Industries for the month of August:Work In ProcessBalance, August 1 $41,000Direct materials used 75,000Direct labor 120,000Manufacturing overhead applied90,000Jobs finished during August are summarized here:Job #Cost of Jobs Completed234 $58,000237 65,000231 74,500246 67,500At the end of August, only one job, Job 248, was still in process. The direct labor cost incurred on Job 248 as of August 31 was $24,000.1. Calculate the predetermined overhead rate that was used to apply manufacturing overhead to jobs during August.2. Determine the balance in Work in Process at the end of August.3. Determine how much of the direct materials cost and applied overhead would be recorded for Job 248 as of August 31.