Job Costing

GoPack Corporation completed work on three jobs in the most recent period. Only these three jobs were worked on for the period. Information for the three jobs is as follows:
Pounds (lb.) of Direct Material           # of Direct Labor Hours
Job 1                            550                                                                  1,250
Job 2                            275                                                                     875
Job 3                            485                                                                  1,675
Cost of direct materials per pound     $15.00 / lb.
‐‐‐
Cost of direct labor per hour  ‐‐‐‐        $24.00 / DL hour
GoPack incurred overhead costs of $304,000 for the period. GoPack currently uses a volume based system to allocate overhead costs to jobs. Direct labor hours is the allocation base for this volume based allocation.

1. Calculate the overhead allocation rate using the current allocation system.

2. Calculate the total cost of each job: Job 1, Job 2 and Job 3 using the current allocation system.