15 5 Landen Corporation uses a job-order costing system. At the beginning of the year, the company made the following estimates: Direct labor-hours required to support estimated production 110,000 Machine-hours required to support estimated production 55,000 Fixed manufacturing overhead cost $ 308,000 Variable manufacturing overhead cost per direct labor-hour $ 3.20 Variable manufacturing overhead cont per machine-hour $ 6.40 During the year, Job 550 was started and completed. The following information is available with respect to this job: Direct materials $ 187 Direct labor cost $ 370 Direct labor-hours Machine-hours Required: 1. Assume that Landen has historically used a plantwide predetermined overhead rate with direct labor-hours as the allocation base Under this approach: a. Compute the plantwide predetermined overhead rate, b. Compute the total manufacturing cost of Job 550. c. If Landen uses a markup percentage of 200% of its total manufacturing cost, what selling price would it establish for Job 550? 2. Assume that Londen's controller belleves that machine-hours is a better allocation base than direct lobor-hours. Under this opproach: a. Compute the plantwide predetermined overhead rate, b. Compute the total manufacturing cost of Job 550. c. If Landen uses a markup percentage of 200% of its total manufacturing cost, what selling price would it establish for Job 550? (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) Required: 1. Assume that Landen has historically used a plantwide predetermined overhead rate with direct labor-hours as the allocation base. Under this approach: a. Compute the plantwide predetermined overhead rate. b. Compute the total manufacturing cost of Job 550. c. If Landen uses a markup percentage of 200% of its total manufacturing cost, what selling price would it establish for Job 550? 2. Assume that Landen's controller believes that machine-hours is a better allocation base than direct labor-hours. Under this approach: a. Compute the plantwide predetermined overhead rate. b. Compute the total manufacturing cost of Job 550. c. If Landen uses a markup percentage of 200% of its total manufacturing cost, what selling price would it establish for Job 550? (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) per DLH 1. Direct labor hours: 1a. Predetermined overhead rate 16. Total manufacturing cost of Job 550 10. Selling price 2. Machine-hours 2a. Predetermined overhead rate 2b. Total manufacturing cost of Job 550 2c Selling price per MH