21 Homework See Help Save & Exit Submit Problem 2-16 Plantwide Predetermined Overhead Rates; Pricing (L02-1, LO2-2, LO2-3] Landen Corporation uses a job-order costing system. At the beginning of the year, the company made the following estimates: Direet labor-hourn required to support estimated production Machine-hours quired to support astiated production Fixed manufacturing overhead cont Variable manufacturing overhead coat per direct labor-hour Variable manufacturing overhead cont per machine-hour 140,000 70.000 $784,000 $ 2.00 $ 4.00 During the year, Job 550 was started and completed. The following information is available with respect to this job: Direct materiala Det labor coat Direct Labor-hours Mehin-hour 175 #225 15 5 Required: 1. Assume that Landen hos historically used a plantwide predetermined overhead rate with direct laborehours as the allocation base Under this approach a. Compute the plantwide predetermined overhead rate. b. Compute the total manufacturing cost of Job 550. If Landen uses a markup percentage of 200% of its total manufacturing cost, what selling price would establish for Job 550? 2. Assume that Landen's controller believes that machine-hours is a better allocation base thon direct lobor-hours. Under this approach . Compute the plantwide predetermined overhead rate. b. Conspute the total manufacturing cost of Job 550 Yanden uses a markup percentage of 200% of its total manufacturing cost, what selling price would it establish for Job 5507 Round your intermediate calculations to 2 decimal places. Round your "Predetermined Overhead Rate" answers to 2 decimal places and all other answers to the nearest whole dollar)