1. Problem 14-01A a-h (Part Level Submission) Marigold Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2017, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $23,200, direct labor $13,920, and manufacturing overhead $18,560. As of January 1, Job 49 had been completed at a cost of $104,400 and was part of finished goods inventory. There was a $17,400 balance in the Raw Materials Inventory account. During the month of January, Marigold Company began production on Jobs 51 and 52, and completed Jobs 50 and 51. Jobs 49 and 50 were sold during the month. The following additional events occurred during the month. Purchased additional raw materials of $104,400 on account 2 incurred factory labor costs of $81,200, Incurred manufacturing overhead costs as follows: Indirect materials $19,720; indirect labor $23,200; depreciation expense on equipment $13,920, and various other manufacturing overhead costs on account $18,560. 4. Assigned direct materials and direct labor to jobs as follows. Job No Direct Materials Direct Labor 50 $11,600 $5,800 51 45,240 29,000 52 34,800 23,200 3. Calculate the predetermined overhead rate for 2017, assuming Marigold Company estimates totalmeining overhead costs of $974,400, direct labor costs of $812,000, and direct labor hours of 23,200 for the year. (Round answer to the nearest whole percent % Predetermined overhead rate