Exercise 10A-6 Predetermined Overhead Rate [L010-4] Lasser Company plans to produce 20,000 units next period at a denominator activity of 40,000 direct labor-hours. The direct labor wage rate is $12.00 per hour. The company's standards allow 2 yards of direct materials for each unit of product, the material costs $8.70 per yard. The company's budget includes variable manufacturing overhead cost of $2.30 per direct labor-hour and fixed manufacturing overhead of $192,000 per period. Required: 1. Using 40,000 direct labor-hours as the denominator activity, compute the predetermined overhead rate and break it down into variable and fixed elements. 2. Complete the standard cost card below for one unit of product. Complete this question by entering your answers in the tabs below. Required Required 2 Using 40,000 direct labor-hours as the denominator activity, compute the predetermined overhead rate and break it down into variable and fixed elements. (Round your answers to 2 decimal places.) Predetermined overhead rate Variable element Fixed element per DLH per DLH per DLH