Epstein Recycling recycles newsprint, cardboard, and so forth, into Afer the new fiscal year began, Mills Paper Supply asked recycied packaging materials. For the coming year, Epstein estimates Epstoin Recycling to bid for a job that will take 1.975 machine total manufacturing overhead to be $370,000. The company's hours and 1,550 direct labor hours to produce. The direct managers are not sure if direct labor hours (estimated to be 10,000) labor cost for this job will be $12 per hour, and the direct or machine hours (estimated to be 14,800 hours) is the bett materlais will totai $25,600 allocation base to use for allocating manufacturing overhead. Epstein bids for fobs using a 30% mankup over total manutacturing cost Read the requirements Requirement 1. Compute the total job cost and bid price if Epstein Recycling decided to use direct labor hours as the manufacturing overhead allocation base for the year. First calculate the predetermined overhead rate based on direct labor hours. Identify the formula and then compute the rate