Exercise 2-13 Departmental Predetermined Overhead Rates [LO2-1, LO2-2, LO2-4) predetermined overhead rate in each department. The Cutting Department bases its rate on machine-hours, and the Finishing Department bases its rate on direct labor-hours. At the beginning of the year, the company made the following estimates: ting rinishing 6003, acturing overhead eost Variable mautscturing overhead per machine-hour Variable manufacturing overhead 3,0,000 496.000 $ 2.00 per direct labor-hour Required 1 Compute the predetermined overhead rate for each department 2. The job cost sheet for Job 203, which was started and completed during the year, showed the following Cutting Pinishing Using the p redetermined overhead rates that you computed in requirement (f compute the total manufacturing cost assigned to Job 3 Wouid you expect substantially different amounts of overhead cost to be assigned to some jobs if the company used a ad rate based on direct labor hours rather than using departmental rates? Complete the question by entering your answers in the tabs given below 7