Landen Corporation uses ajob-order costing system. At the beginning of the year, the company made the following estimates: Direct laborhours required to support estimated production 160,000 Machinehours required to support estimated production 80,000 Fixed manufacturing overhead cost $ 480,000 Variable manufacturing overhead cost per direct laborhour $ 5.00 Variable manufacturing overhead cost per machinehour $ 10.00 During the year, Job 550 was started and completed. The following information is available with respect to thisjob: Direct materials $ 240 A Direct labor cost $ 233 Direct laborhours 15 Machinehours * 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 of200% .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 piaces and all other answers to the nearest whole dollar.)