Exercise 15-17 (Algo) Overhead rate; costs assigned to jobs LO P3 Shire Company's predetermined overhead rate is based on direct labor cost. Management estimates the company will incur $605,000 of overhead costs and $550,000 of direct labor cost for the period. During March, Shire began and completed Job 56. 1. What is the predetermined overhead rate for this period? 2. Use the information on the following job cost sheet to determine the total cost of Job 56. Complete this question by entering your answers in the tabs below. Required 1 Required 2 What is the predetermined overhead rate for this period? Numerator: 1 Overhead Rate Denominator: