Chapter 16 1. Predetermined overhead rate: costing an individual job CDC Brakes specializes in brake repair in automobiles. The company applies overhead costs to jobs on the basis of direct labor hours. For the current year, total manufacturing overhead was expected to cost $50,000. The total expected direct labor hours were anticipated to be 8,000. The company was working on job #842, a brake pad replacement on a Volkswagen Golf. The following costs were incurred: New Brake Pads: $8.50 Labor: 40 minutes of employee time - wage rate of $13 per hour. Required: (round to the nearest cent) (7 pts) a.) Determine the cost of the job b.) Assuming the company charges a flat rate of $50 to replace brake pads, how much gross profit will have been earned on Job #842