1. Calculate the overhead rate for Fabricating based on machine hours and the overhead rate for Assembly based on direct labor hours. required, round your answers to the nearest cent. Use the rounded values for subsequent calculations. 2. Using the overhead rates calculated in Requirement 1 , calculate the cost of Job 316 . If required, round your answer to the nearest cent. $ 3. What if Job 316 had required one machine hour in Fabricating and four direct labor hours in Assembly? Direct labor and direct materials costs remained the same. Calculate the new cost of Job 316. If required, round your answer to the nearest cent. $