Biase Recycling recycles newsprint, cardboard, and so forth, into recycled packaging materials. For the coming year, Biase estimates total manufacturing overhead to be $360,360. The company's managers are not sure if direct labor hours (estimated to be 10,010) or machine hours (estimated to be 18,018 hours) is the best allocation base to use for allocating manufacturing overhead. Biase bids for jobs using a 31% markup over total manufacturing cost. After the new fiscal year began, Hollings Paper Supply asked Biase Recycling to bid for a job that will take 1,995 rs machine hours and 1,750 direct labor hours to produce. The direct labor cost for this job will be $11 per hour, and the g direct materials will total $25,900. Read the requirements. i Requirements - 1. Compute the total job cost and bid price if Biase Recycling decided to use direct labor hours as the manufacturing overhead allocation base for the year. 2. Compute the total job cost and bid price if Biase Recycling decided to use machine hours as the manufacturing overhead allocation base for the year. 3. In addition to the bid from Biase Recycling, Hollings Paper Supply received a bid of $123,500 for this job from Cusack Recycling. What are the ramifications for Biase Recycling? Print Done Requirement 1. Compute the total job cost and bid price in Biase Recycling decided to use direct labor hours as the manufacturing overhead allocation base for the year. First calculate the predetermined overhead rate based on drect labor hours, Identity the formula and then computo the rate Predetermined overhead rate