Phyllo Computer Company uses a job order costing system in which each batch manufactured is a different job. Phyllo Computer Company assigns direct materials and direct labor to each job. The company assigns labor costs at $23 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 2020, the controller prepared the following budget: (Click the icon to view the budget.) In November 2020, Phyllo Computer Company worked on several jobs. Records for two jobs appear here: E: (Click the icon to view the records for the two jobs.) Read the requirements. x 1 Data Table rmined Data Table Job 721 Job 722 Manufacturing overhead $ $ 210,000 1,050,000 Direct labor hours 770 hours 100 hours Direct labor costs Direct materials $ 2,200 Print Done Print Done Total cost Requirement 1. Compute Phyllo Computer Company's predetermined overhead (OH) allocation rate for 2020. = Predetermined OH allocation rate % Requirement 2. Compute the total cost of each job. Job 721 Job 722 Total cost Requirement 3. Why does Phyllo assign costs to jobs? Phyllo Computer Company assigns costs to jobs to help the company Phyllo that cover all costs and contribute to profit. Assigning costs to also can help Choose from any list or enter any number in the input fields and then continue to the next