PROBLEM $2-18$ Plantwide Predetermined Overhead Rates; PricingLO$2-1,$ LO$2-2,5$ LO$2-3$Landen Corporation uses job$-$order costing. At the beginning of the year, it made the following estimates:Direct labor$-$hours required to support estimated production $140,000$Machine$-$hours required to support estimated production$70,000$Fixed manufacturing overhead cost$$784,000$Variable manufacturing overhead cost per direct labor$-$hour$$2\mathrm{.}00$Variable manufacturing overhead cost per machine$-$hour$$4\mathrm{.}00$During the year, Job $550$ was started and completed. The following information pertains to this job:Direct materials$$175$Direct labor cost$$225$Direct labor$-$hours$15$Machine$-$hours$5$