The Robbins Company manufactures special purpose machines to order . On January 1, there were two jobs in process , #705 and #706 . The following costs were applied to these jobs in the prior year : Job No . 705 706 Direct material $ 5.000 $ 8.000 Direct labor 4,000 3.000 Overhead 4.400 3,300 Total $ 13,400 $14.300 During January, the following transactions took place: Raw material costing $40.000 was purchased on account Jobs #707 . #708 , and #709 were started and the following costs were applied to them JOB 707 708 709 Direct materials $3.000 $ 10.000 $ 7,000 Direct labor 5,000 6.000 4,000 Job #705 and Job #706 were completed after incurring additional direct labor costs of $2,000 and $4,000 , respectively Wages paid to production employees during January totaled $25,000. Depreciation for the month of January totaled $ 10,000 Utilities bills in the amount of $ 10,000 were paid for operations during December Utilities bills totaling $ 12,000 were received for January operations Supplies costing $2,000 were used Miscellaneous overhead expenses totaled $24,000 for January Actual overhead is applied to individual jobs at the end of each month using a rate based on actual direct labor costs Required: Determine the January overhead rate Determine the cost of each job Prepare a statement of cost of goods manufactured

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