Landen Corporation uses job-order costing. At the beginning of the year, it made the following estimates: During the year, Job 550 was started and completed. The following information pertains to this job: Required: 1. Assume 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 2000 of its total manufacturing cost, what selling price would it establish for Job 550 ? 2. Assume Landen's controller belleves 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 ? \begin{tabular}{|l|l|l|} \hline 1. Direct labor-hours. & & \\ \hline 1a. Predetermined overhead rate & & per DLH \\ \hline 1b. Total manufacturing cost of Job 550 & & \\ \hline 1c. Selling price & & \\ \hline 2. Machine-hours. & & per MH \\ \hline 2a. Predetermined overhead rate & & \\ \hline 2b. Total manufacturing cost of Job 550 & & \\ \hline 2c. Selling price & & \\ \hline \end{tabular}