Landen Corporation uses a job-order costing system. At the beginning of the year, the company made the following estimates Direct labor-hours required to support estimated production Machine-hours required to support estimated production Fixed manufacturing overhead cost Variable manufacturing overhead cost per direct labor-hour Varlable manufacturing overhead cost per machine-hour 65,000 32,500 $195,000 $ 1.20 $2.40 27 During the year, Job 550 was started and completed. The following information is available with respect to this job Direct materials Direct labor cost $ 250 $318 ces Direct labor-hours Machine-hours Required: 15 5 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 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 5507 (Round your intermediate calculations to 2 decimal places. Round your Predetermined Overhead Rate answers to 2 decimal places and all other answers to the nearest whole doller.) 1. Direct labor-hours 1a Predetermined overhead rate 16. Total manufacturing cost of Job 550 tc. Selling price 2 Machine-hours 2a Predetermined overhead rate 2b Total manufacturing cost of Job 550 2 Selling price per DLH per MH