Pentucket Computer Company uses a job order costing system in which each batch manufactured is a different job. Pentucket Computer Company assigns direct materials and direct labor to each job. The company assigns labor costs at $30 per hour. It allocates manufacturing overhead to jobs based on a predetermined overhead allocation rate, computed as a percentage of direct labor costs. At the beginning of 2024, the controller prepared the following budget: B (Click the icon to view the budget.) In November 2024, Pentucket Computer Company worked on several jobs. Records for two jobs appear here: (Click the icon to view the records for the two jobs.) Read the requirements. Requirement 1. Compute Pentucket Computer Company's predetermined overhead (OH) allocation rate for 2024. : = Predetermined OH allocation rate = % Manufacturing overhead $ 455,000 Direct labor costs $ 1,300,000 Job 721 Job 722 Direct labor hours 760 hours 120 hours Direct materials $ 22,400 $ 2,300 1. Compute Pentucket Computer Company's predetermined overhead allocation rate for 2024. 2. Compute the total cost of each job. 3. Why does Pentucket assign costs to jobs