Landen Corporation uses a job-order corting system. At the beginning of the jear, the company made the following estimates: During the jear, Job 550 was started and completed. The following information is avalable with respect to this job: Required: 1. Assume that Landen has historically used a plantwide predetermined overhead rate with direct laborhours as the allocation base. Under this approach a. Compute the plantwide predetermined overhead rate. b. Compute the total manufacturing cost of Job 550 . c. If Landen uses a markup percentage of 200% of its total manufacturing cost, what selling price woald it establish for Job 550 ? 2. Asrume that Landen's controller believes that machinehours is a better allocation base than direct laborhours. Under this approach: a. Compute the plantwide predetermined overhead rate. b. Compute the total manufacturing cost of Job 550 . c. If Landen user a markup percentage of 200% of its total manufacturing cost, what selling price would it ertablish for Job 550 ? 3. Assume that Landen's controller is right about machinehours being a more accurate overhead cost allocation base than direct labor boars. If the company continues to use direct labochours as its only overhead cost allocation base what implications does this bave for pricing jobs such as Job 550