Lakeshore has two departments: cutting and finishing. The company uses a job$-$order costing system and computes a predetermined overhead rate in each department. The cutting department bases its rate on machine$-$hours, and the finishing department bases its rate on direct labour cost. At the beginning of the year, the company made the following estimates:

Department

Cutting Finishing

Direct labour$-$hours $6,10034,100$

Machine$-$hours $47,7504,100$

Manufacturing overhead cost $ $458,400$ $ $535,500$

Direct labour cost $ $61,000$ $ $297,500$

Required:

$1.$ Compute the predetermined overhead rate to be used in each department. $($Round your answers to $2$ decimal places.$)$

$2.$ Assume that the overhead rates that you computed in Requirement $(1)$ are in effect. The job cost sheet for job $203,$ which was started and completed during the year, showed the following:

Department

Cutting Finishing

Direct labour$-$hours $825$

Machine$-$hours $755$

Materials requisitioned $ $500$ $ $310$

Direct labour cost $ $88$ $ $161$

Compute the total overhead cost applied to job $203.($Do not round intermediate calculation. Round your final answer to $2$ decimal places.$)$Lakeshore has two departments: cutting and finishing. The company uses a job$-$order costing system and computes a predetermined

overhead rate in each department. The cutting department bases its rate on machine$-$hours, and the finishing department bases its

rate on direct labour cost. At the beginning of the year, the company made the following estimates:

Required:

Compute the predetermined overhead rate to be used in each department. $($Round your answers to $2$ decimal places.$)$

Assume that the overhead rates that you computed in Requirement $(1)$ are in effect. The job cost sheet for job $203,$ which was

started and completed during the year, showed the following:

Compute the total overhead cost applied to job $203.($Do not round intermediate calculation. Round your final answer to $2$ decimal

places.$)$

Total overhead cost applied