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Please help solve and explain. Riker Industries uses job costing to calculate the costs of its jobs with direct labor cost as its manufacturing overhead

Please help solve and explain.

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Riker Industries uses job costing to calculate the costs of its jobs with direct labor cost as its manufacturing overhead allocation base. (Click the icon to view additional information.) Read the requirements Requirem More Info Determine - X cost? n calculate the rate. Estima rhead rate The company manufactures a variety of engines for use in farm equipment. At the beginning of the current year, Riker estimated that its overhead for the coming yearL cost would be $300,000. It also anticipated using 25,000 direct labor hours for the year. Riker pays its employees an average of $20 per direct labor hour. Riker just finished Job 371, which consisted of two engines for a farm equipment manufacturer. The costs and hours for this job consisted of $16,500 in direct materials used and 125 direct labor hours. Print Done Requirements 1. What is Riker's predetermined manufacturing overhead rate based on direct 2. Calculate the manufacturing overhead to be allocated based on direct labor 3. What is the total cost of Job 371? labor cost? cost to Job 371 Print Done

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