and calculate cost of jobs E3-20A Compute a predetermined overhead rate and calculate cost based on direct labor hours (Learning Objectives 3 & 4) Elkland Heating & Cooling installs and services commercial heating and coolina Elkland uses job costing to calculate the cost of its jobs. Overhead is allocated to job based on the number of direct labor hours spent on that job. At the beginning of current year, Elkland estimated that its overhead for the coming year would be $61,500 also anticipated using 4,100 direct labor hours for the year. In November, Elkland started and completed the following two jobs: Job 101 Job 102 Direct materials used. $15,000 $10,000 Direct labor hours used. 155 72 E: Elkland paid a $24-per-hour wage rate to the employees who worked on these two jobs. Requirements 1. What is Elkland's predetermined overhead rate based on direct labor hours? 2. Calculate the overhead to be allocated to each of the two jobs based on directia hours. 3. What is the total cost of Job 101? What is the total cost of Job 102