Landen Corporation uses a job-order costing system. At the beginning of the year, the company made the following estimates: 145,000 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 Variable manufacturing overhead cost per machine-hour 72,500 $406,000 $ 4.40 $ 8.80 During the year, Job 550 was started and completed. The following information is available with respect to this job: $183 $295 Direct materials Direct labor cost Direct labor- hours Machine-hours 15 5 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 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? (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 dollar.) 1. Direct labor-hours: a. Predetermined overhead rate per DLH b. Total manufacturing cost of Job 550 C. Selling price 2. Machine-hours: per MH a. Predetermined overhead rate Total manufacturing cost of b Job 550 C. Selling price