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Shire Company's predetermined overhead rate is based on direct labor cost. Management estimates the company will incur $784,000 of overhead costs and $560,000 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 Use the information on the following job cost sheet to determine the total cost of Job 56. (Round your answers to the nearest dollar amount.) JOB COST SHEET Customer's Name: Kelser Company Job Number: 56 Job Description: 3 customized systems Direct Materials Direct Labor Overhead Date Requisition Time-Ticket Total Cost Cost Cost Number Number Applied March 08 M-129 $ 7,000 T-306 $ 690 $ 966 March 11 M-142 7,250 T-432 1,260 1,764 March 18 M-167 3,850 T-456 1,310 1,834 $ 18,100 $ 3,260 $ 4,564 Shire Company's predetermined overhead rate is based on direct labor cost. Management estimates the company will incur $784,000 of overhead costs and $560,000 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. Requhed 1 Required 2 What is the predetermined overhead rate for this period? Overhead Rate Numerator: 1 Denominator: Estimated overhead cost / Estimated direct labor 784,0001 $ 560,000 Overhead Rate Overhead rate 140% =