4. As the cost accountant for Armadillo Corporation, you have been asked to prepare predetermined overhead rates, based on the factory's annual budget, in a Job Order Costing system. The following estimates were taken from the annual budget: Budgeted time: Direct labor hours 187,500 Machine hours 300,000 Budgeted direct manufacturing costs: Direct materials $2,400,000 Direct labor 1,600,000 Bedgeted indirect manufacturing costs: Indirect Materials $ 158,000 Indirect labor 256,000 Payroll taxes 181,000 Maintenance 143,000 Utilities 69,000 Depreciation on plant assets 316,000 Insurance on factory 77,000 Instructions: a. Determine the total estimated manufacturing overhead. b. Determine the overhead application rate based on machine hours, direct labor hours, and direct labor cost (3 separate overhead application rates are required). c. Overhead Rates Machine Hours Direct Labor Hours Direct Labor Cost Applied based upon: Determine the total cost of Job 4321 using each of the application rates determined in the last step (3 separate valuations are required), based upon the following information obtained from the Job Cost Sheet: Direct Materials $16,000 Direct Labor $10,000 Machine Hours 2,400 Direct Labor Hours 1,250 Units produced 400 Manufacturing Costs Machine Hours Direct Labor Hours Direct Labor Cost Direct Materials Direct Labor Manufacturing Overhead Total Cost