Lakeland Heating & Cooling installs and services commercial heating and cooling systems. Lakeland uses job costing to calculate the cost of its jobs. Overhead is allocated to each job based on the number of direct labor hours spent on that job. At the beginning of the current year, Lakeland estimated that its overhead for the coming year would be $66,400. It also anticipated using 4,150 direct labor hours for the year In December, Lakeland started and completed the following two jobs: (Click the icon to view the jobs.) Lakeland paid a $34-per-hour wage rate to the employees who worked on these two jobs. Read the requirements. Requirement 1. What is Lakeland's predetermined overhead rate based on direct labor hours? Determine the formula to calculate Lakeland's predetermined overhead rate based on direct labor hours, then calculate the rate. Estimated yearly overhead costs 66,400 Estimated yearly direct labor hours 4,150 Predetermined overhead rate 16 per hour Requirement 2. Calculate the overhead to be allocated to each of the two jobs based on direct labor hours. Job 101 Job 102 Overhead costs Data table Job 101 Job 102 Direct materials used $ 17,500 $ 10,000 Direct labor hours used.... 170 72