Exercise 02-11 Overhead rate; costs assigned to jobs LO P3 Shire Computer's predetermined overhead rate is based on direct labor cost. Management estimates the company will incur $747,500 of overhead costs and $575,000 of direct labor cost for the year. During March, Shire began and completed Job 13-56. 1. What is the predetermined overhead rate for the year? 2. Use the information on the following job cost sheet to determine the total cost of the job. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Using the information on the following job cost sheet, determine the total cost of the sob. Job No. 13-56 JOB COST SHEET Customer's Name: Keiser Co. Job Description: 5 plasma monitors 61 Inch Direct Materials Direct Labor Total Cost Overhead Costs Applied Date Requisition No. Amount Time Ticket No. Amount Mar. 8 4.529 $ S Mar 11 Mar. 18 4-542 4-167 5.000 T 306 7020 7-432 3,330T-456 700 1.250 1,250