In December 2016, Shire Computer's management establishes the 2017 predetermined overhead rate based on direct labor cost. The information used in setting this rate includes estimates that the company will incur $747,500 of overhead costs and $575,000 of direct labor cost in year 2017. During March 2017, Shire began and completed Job 13-56. 1. What is the predetermined overhead rate for 2017? 2. Using the information on the following job cost sheet, determine the total cost of the job. Complete this question by entering your answers in the tabs below. Required 1 Required 2 What is the predetermined overhead rate for 2017? Overhead Rate Choose Denominator: Choose Numerator: 1 = Overhead Rate 1 Overhead rate Required 1 Required 2 Using the information on the following job cost sheet, determine the total cost of the job. JOB COST SHEET: Job No. 13-56 Direct Materials Direct Labor Overhead Total Cost Date Requisition No. Amount Time-Ticket No. Amount Costs Applied Mar. 8 4-129 $ 5,000 T-306 700 Mar. 11 4-142 7,020 T-432 1,250 Mar. 18 4-167 3,330 T-456 1,250 Required 1 Required 2