M Chapter 2 Homework X High Desert Potterywons makes a variety of pottery products that R sells to retailers such as Home Depot. The company uses apborder costng systemin which predetermined overhead rates are used to apply manutaciunng overhead cost to Kobs. The predetermined overhead rate in the Molding Department is based machine-hours, and the rale in the Pantng Department is based on direct labor-hours. Al the beginning ofthe year, the company's management made the folowing estimates. Direct labor-hours 12.000 Direct malenals cost $510,000 Direct labor cost $130,000 FDxed manutacturing overhead cost $497,000 $615,000 Variable manufacturing overhead per machine hour $1.50 Vanable manufacturing overhead per died labor. $2.00 Job 205 was started on August 1 and completed on August 10. The company's cost records show the following information conoeming the job Direct labor-hours 110 Materials placed into ploduction 1. Compute the overhead rate used during the year in the Molding Department. Compute the rate used in the Painting Department (Round your answers to 2 decimal places) Molding Department a OAsk me anything