In December 2016, Shire Computer's management establishes the 2017 predetermined overhead rate based on direct labor cost. The information used in setting this rate includes estimates that the company will incur $747,500 of overhead costs and $575,000 of direct labor cost in year 2017. During March 2017, Shire began and completed Job 13-56.

1. What is the predetermined overhead rate for 2017?

2. Use the information on the following job cost sheet to determine the total cost of the job.

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JOB COST SHEET Customer's Name Keiser Co. Job No. 13-5 Job Description 5 plasma monitors-61 inch Overhead Costs Applied Direct Materials Direct Labor Date Mar. 8 Mar. 11 Mar. 18 Totals Requisition No. Amount Time-Ticket No. Amount Rate Amount T-306 T-432 T-456 $5,000 7,020 3,330 700 1,250 1,250 4-129 4-142 4-167