Pritchet Computer Company uses a job order costing system in which each batch manufactured is a different job. Pritchet Computer Company assigns direct materials and direct labor to each job. The company assigns labor costs at $22 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: (Click the icon to view the budget.) In November 2024, Pritchet 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. Data table Requirement 1. Compute Pritchet Computer Company's predetermined overhead (OH) allocation rate for 2024. Predetermined OH allocation rate + = % Requirement 2. Compute the total cost of each job. Job 721 Job 722 Total cost Requirement 3. Why does Pritchet assign costs to jobs? Pritchet Computer Company assigns costs to jobs to help the company Data table Manufacturing overhead $ 339,000 Direct labor costs $ 1,130,000 Print Done that cover all costs and contribute to profit. Assigning costs to also can help Pritchet - X Job 721 Job 722 Direct labor hours 750 hours 120 hours Direct materials $ 23,000 $ 2,800