A job cost sheet of Fugate Company is given below. 
Instructions
(a) Answer the following questions.
(1) What is the predetermined manufacturing overhead rate?
(2) What are the total cost and the unit cost of the completed job?
(b) Prepare the entry to record the completion of the job.
Definitions:
Fixed Overhead
A type of business expense that does not change with the level of production or sales, such as rent, salaries, and insurance.
Selling Costs
Expenses associated with the selling process, including advertising, sales commission, and shipping costs.
Operating Loss
A situation where a company's operating expenses exceed its revenue, indicating that it is not making a profit from its core business activities.
Variable Costs
Costs that vary directly with the level of production or sales volume.
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