Problem 5-16 Applying Overhead in a Service Company [LO2, LO3, LO4] Leeds Architectural Consultants uses a job-order costing system and applies studio overhead to jobs on the basis of direct staff costs. Because Leeds Architectural Consultants is a service firm, the names of the accounts it uses are different from the names used in manufacturing companies. The following costs were recorded in January Cost of subcontracted work  $ 231,700 Direct staff costs $ 76,600 Studio overhead $ 132,518 Cost of work completed $ 388,100 There were no beginning inventories in January. At the end of January, only one job was still in process. This job had been charged with $6,620 in direct staff costs 1Compute the predetermined overhead rate that was used during January 2Complete the following job cost sheet for the partially completed Lexington Gardens Project.