"Blast it" said David Wilson, president of Teledex Company. "We've just lost the bid on the Koopers job by $4,000. It seems we're elther too high to get the job or too low to make any money on half the Jobs we bid" Teledex Company manufactures products to customers' specifications and uses a job-order costing system. The company uses a plantwide predetermined overhead rate based on direct labor cost to apply its manufacturing overhead (assumed to be all flixed) to jobs. The following estimates were made at the beginning of the year De Manufacturing overhead Direct labor Fabricating Machining Assembly Total Plant $ 374,500 428,000 $96,300 $ 898,800 214,000 107,000 $ 321,000 642,000 Jobs require varying amounts of work in the three departments. The Koopers job, for example, would have required manufacturing costs in the three departments as follows: Fabricating Machining Assembly Total Plant Direct paterials Direct labor Manufacturing overhead $4,400 $5, 600 $ 400 700 $2,800 $7,600 $ 7,600 $13,900 Required 1. Using the company's plantwide approach: a. Compute the plantwide predetermined rate for the current year b. Determine the amount of manufacturing overhead cost that would have been applied to the Koopers job. 2. Suppose that instead of using a plantwide predetermined overhead rate, the company had used departmental predetermined overhead rates based on direct labor cost. Under these conditions: a Compute the predetermined overhead rate for each department for the current year b. Determine the amount of manufacturing overhead cost that would have been applied to the Koopers job. 4. Assume that it is customary in the industry to bid jobs at 150% of total manufacturing cost (direct materials, direct labor, and applied overhead). a What was the company's bid price on the Koopers job using a plantwide predetermined overhead rate? b What would the bid price have been if departmental predetermined overhead rates had been used to apply overhead cost? Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 2A Required 28 Required 4A Required 4B Using the company's plantwide approach, compute the plantwide predetermined rate for the current year overhead rate of direact labor oost Required 1A Required 18 Required 2ARequired 28 Required 4A Required 4B Suppose that instead of using a plantwide predetermined overhead rate, the company had used departmental predetermined overhead rates based on direct labor cost. Compute the predetermined overhead rate for each department for the current year Predetemined Overhead Rate Fabricating department Machining department Assembly department % % % of direct labor cost | of direct labor cost | of direct labor cost t 1 Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 2A Required 2BRequired 4ARequired 4B Suppose that instead of using a plantwide predetermined overhead rate, the company had used departmental predetermined overhead rates based on direct labor cost. Determine the amount of manufacturing overhead cost that would have been applied to the Koopers job. ufacturing overhead cost applied Complete this question by entering your answers in the tabs below Required 1A Required 1B Required 2A Required 28 Required 4A Required 48 Assume that it is customary in the industry to bid jobs at 150% of total manufacturing cost (direct materials, direct labor, and applied overhead). What was the company's bid price on the Koopers job using a plantwide predetermined overhead rate? Company's bid price Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2A Required 28 Required 4A Required 4B Assume that it is customary in the industry to bid jobs at 150% of total manufacturing cost (direct materials, direct labor, and applied overhead). What would the bid price have been if departmental predetermined overhead rates had been used to apply overhead cost? ufacturing overhead cost applied