Data table Requirements 1. What is Richmond's predetermined overhead rate based on direct labor hours? 2. Calculate the overhead to be allocated to each of the two jobs based on direct labor hours. 3. What is the total cost of Job 101? What is the total cost of Job 102 ? Richmond Heating \& Cooling installs and services commercial hoating and cooling systems. Richmond uses job costing to calculate the cost of its jobs. Overhead is allocated to each job trased on the number of direct labor hours spent on that job. At the beginning of the current year, Richmond estimated that its overhead for the coming year would be $64,800. It also anticipaled using 4,050 direct labor hours for the year. In April, Ruchmond started and completed the following two jobs (Click the icon fo view the jobs.) Richmond paid a \$26-perthour wage rate to the employees who Worked on these two jobs. Read the requirements. Requirement 1. What is Richmond's predetermined overhead rate based on direct labor hours? Determine the formula to calculate Richmond's predetermined overhead rate based on direct labor hours, then calculate the rate. Data table Richmond Heating \& Cooling installs and services commercial heating and cooling systems. Richmond uses job costing to calculate the cost of its jobs. Overhead is allocated to each job based on the number of direct labor hours spent con that job. At the boginning of the current year, Richmond estimated that its overhoad for the coming year would be $64,800. It also anticipated using 4,050 diroct labor hours for the year. In April, Richmond startod and completed the following two jobs: (Click the icon to viow the jobs.) Richmond paid a \$26-per-hour wage rate to the emplcyees who worked on these two jobs. Read the cequirements Requirement 1. What is Richmond's predetermined overhead rate based on direct labor hours? Determine the formula to calculate Richmond's predotormined ovorhoad rate based on direct labor hours, then calculate the rate. Requirements 1. What is Richmond's predetermined overhead rate based on direct labor hours? 2. Calculate the overhead to be allocated to each of the two jobs based on direct labor hours. 3. What is the total cost of Job 101? What is the total cost of Job 102