Part 1 of 9 Landers Recycling recycles newsprint, cardboard, and so forth, into recycled packaging materials. For the coming year, Landers estimates total manufacturing overhead to be $360,360. The company's managers are not sure if direct labor hours (estimated to be 10,010) or machine hours (estimated to be 18,018 hours) is the best allocation base to use for allocating manufacturing overhead. Landers bids for jobs using a 29% markup over total manufacturing cost Points: 0 of 3 After the new fiscal year began, Eliot Paper Supply asked Landers Recycling to bid for a job that will take 1,980 machine hours and 1,750 direct labor hours to produce. The direct labor cost for this job will be $10 per hour, and the direct materials will total $25,700. Read the requirements. Requirement 1. First calculate the Estimated ye Requirements 1. Compute the total job cost and bid price if Landers Recycling decided to use direct labor hours as the manufacturing overhead allocation base for the year. 2. Compute the total job cost and bid price if Landers Recycling decided to use machine hours as the manufacturing overhead allocation base for the year. 3. In addition to the bid from Landers Recycling, Eliot Paper Supply received a bid of $126,500 for this job from Cusack Recycling. What are the ramifications for Landers Recycling? Print Done - X overhead allocation base for the year Requirement 1. Compute the total job cost and bid price if Landers Recycling decided to use direct labor hours as the manufacturing overhead allocation base for the year First calculate the predetermined overhead rate based on direct labor hours. Identify the formula and then compute the rate. Estimated yearly machine hours Estimated yearly overhead costs Predetermined overhead rate