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 2020, the controller prepared the following budget: (Click the icon to view the budget.) In November 2020, 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 2020- Data Table X Job 721 Manufacturing overhead Job 722 50 hours 2,000 $ $ Direct labor hours Direct materials 210,000 1,050,000 850 hours 20,200 $ $ Direct labor costs Print Done Print Done Requirement 1. Compute Pritchet 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 Choose from any list or enter any number in the input fields and then continue to the next question. Requirement 2. Compute the total cost of each job. Job 721 Job 722 Direct labor Direct labor hours Direct materials Manufacturing overhead Overhead allocation rate any number in the input fields and then continue to the next question. Total cost Requirement 3. Why does Pritchet assign costs to jobs? that cover all costs and contribute to profit. Assigning costs to also can help Pritchet Computer Company assigns costs to jobs to help the company Pritchet