3. Black Company has two departments, Cutting and Finishing. The company sues a job order cost system and computes a predetermined overhead rate in cach departmest The cuting department bascs its ralc on machme hours, and the fineshing department bases its rate on direct labor howrs At the beginning of the yrar, the company made the estimates shows in Table 1 Table 1 Estimates Direct laber hoars Mfg, overhead cost $360,000 480.000 (a) Compute the predctemmined ovehead sate to be used in each d (b) Assume that the ovethead rates computed above are in effect. The job cost sbeet for Job 203 shows the following Direct labor hoars 10 Machine bours Materials requisitioned& used is production 3,000 Compute the total overhead cost applied to Job 203 and the total macring cost of the job 49 5 6 8