Landen Corporation uses a job-order costing system. At the beginning of the year, the company made the following estimates Direet labor-hours required to support estinated production Machine-hours required to support estinated production rixed manufacturing overhead coat Variable manafacturing overhead cost per direct labor-hour Varlable manufacturing overhead coat per nachine-hour 140,000 70,000 $784,000 $ 2.00 $4.00 During the year, Job 550 was started and completed. The following information is available with respect to this job: Direct materials Direct labor cost Direct labor-hours Machine-hours 175 225 15 Required: 1. Assume that Landen has historically used a plantwide predetermined overhead rate with direct labor-hours 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 would it establish for Job 550? 2. Assume that Landen's controller believes that machine-hours is a better allocation base than direct labor-hours. Under this appro8