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The computer workstation furniture manufacturing that Tim Craig started is progressing well. As of the...

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Accounting

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The computer workstation furniture manufacturing that Tim Craig started is progressing well. As of the end of June, Lincoln Corporation's job cost sheets show the following total costs accumulated on three furniture jobs: Job 602 was started in May, and the following costs were assigned to it in May: direct materials, $600; direct labor, \$180; and overhead, \$90. Jobs 603 and 604 were started in June. Overhead cost is applied with a predetermined rate as a percent of direct labor costs. Jobs 602 and 603 are finished in June, and Job 604 is expected to be finished in July. The company's predetermined overhead rate did not change over these months. 1. What is the cost of direct materials used in June for each of the three jobs and in total? 2. What is the cost of direct labor used in June for each of the three jobs and in total? 3. What predetermined overhead rate is used in June? 4. How much cost is transferred to Finished Goods Inventory in June

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