Problem 2-16 (Algo) Plantwide Predetermined Overhead Rates; Pricing [LO2-1, LO2-2, LO2-3] Landen Corporation uses a job-order costing system. At the beginning of the year, the company made the following estimates: During the year, Job 550 was started and completed. The following information is avallable with respect to this job: Required: 1. Assume that Landen has historically used a plantwide predetermined overhead rate with direct labor-hours as the allocation base Under this approach: a. Compute the plantwide predetermined overhead rate b. Compute the total manufacturing cost of Job 550 . c. If Landen uses a markup percentage of 200% of its total manufacturing cost, what selling price would it establish for Job 550 ? 2. Assume that Landen's controller belleves that machine hours is a better allocation base than direct labor-hours. Under this approach: a. Compute the plantwide predetermined overhead rate. b. Compute the lotal manufacturing cost of Job 550 . c. If Landen uses a markup percentage of 200% of its total manufacturing cost, what selling price would it establish for Job 550 ? (Round your intermediate colculations to 2 decimal places. Round your Predetermined Overhead Rate answers to 2 decimal places ond oll other answers to the nearest whole dollor.) \begin{tabular}{|l|l|l|} \hline 1. Direct labor-hours: & & \\ \hline 1a Predetermined overhead rate & & per DLH \\ \hline 1b. Total manufacturing cost of Job 550 & & \\ \hline 1c. Selling price & & \\ \hline 2. Machine-hours: & & per MH \\ \hline 2a. Predetermined overhead rate & & \\ \hline 2b. Total manufacturing cost of Job 550 & & \\ \hline 2c. Selling price & & \\ \hline \end{tabular}