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Problem $2-18($Static$)$ Plantwide Predetermined Overhead Rates; Pricing $[$LO$2-1,$ LO$2-2,$ LO$2-3]$

Landen Corporation uses job$-$order costing. At the beginning of the year, it made the following estimates:

Direct labor$-$hours required to support estimated production$140,000$Machine$-$hours required to support estimated production$70,000$Fixed manufacturing overhead cost$ $784,000$Variable manufacturing overhead cost per direct labor$-$hour$ $2\mathrm{.}00$Variable manufacturing overhead cost per machine$-$hour$ $4\mathrm{.}00$

During the year, Job $550$ was started and completed. The following information pertains to this job:

Direct materials$ $175$Direct labor cost$ $225$Direct labor$-$hours$15$Machine$-$hours$5$

Required:

Assume Landen has historically used a plantwide predetermined overhead rate with direct labor$-$hours as the allocation base. Under this approach:

Compute the plantwide predetermined overhead rate.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 it establish for Job $550?$

Assume Landen$$s controller believes that machine$-$hours is a better allocation base than direct labor$-$hours. Under this approach:

Compute the plantwide predetermined overhead rate.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 it establish for Job $550?$

Note: 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.