Please answer only requirement 1 and 2. Take your time and good luck

17 Exercise 2-13 Departmental Predetermined Overhead Rates [LO2-1, LO2-2, L02-4] 10 points White Company has two departments, Cutting and Finishing. The company uses a job-order costing system and computes a predetermined overhead rate in each department. The Cutting Department bases its rate on machine-hours, and the Finishing Department bases its rate on direct labor-hours. At the beginning of the year, the company made the following estimates: Cutting 8,500 Direct labor-hours Hachine-hours Total fixed manafacturing overhead cost Variable manufacturing overhead per machine-hour Variable manufacturing overhead per direct labor-hour 4,000 68,4001,800 400,000 578,000 $ 3.00 Print $3.75 Required: 1. Compute the predetermined overhead rate for each department. 2. The job cost sheet for Job 203, which was started and completed during the year, showed the following References1 Cutting Finishing Direct Iabor-hours Machine-hours Direct sateriala Dizect labor cost 14 90 $710 380 66 $308 Using the predetermined overhead rates that you computed in requirement (T), compute the total manufacturing cost assigned to Job 203. 3. Would you expect substantially different amounts of overhead cost to be assigned to some jobs if the company used a plantwide Complete the question by entering your answers in the tabs given below.