Lakeland Heating & Cooling installs and services commercial heating and cooling systems. Lakeland uses In July, Lakeland started and completed the folowing twojobs Job conting to calculate the cost of its jobs. Overhead is allocated to each job based on the number of direct (Click the loon to view the obs) labor hours spent on that job. At the beginning of the current year, Lakeland estimated that its overhead for the coming year would be $67,200. It also anticipated using 4,200 direct labor hours for the year. Lakeland paid a $30-per-hour wage rate to the employees who worked on these twoje Read the remonts 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 Prodetermined overhead rato Job 101 Job 102 Direct materials used $ 19,500 $ 14,000 Direct labor hours used 155 72