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 estumates: During the year. Job 550 was started and completed. The following information is available 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 believes that machine.hours is a better allocation base than clirect laborihours. Under thes armerinerh: 2. Assume that Landen's controller believes 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 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 ? (Round your intermediate calculations to 2 decimal places. Round your Predetermined Overhead Rote onswers to 2 decimal places ond oll other answers to the nearest whole dollar.)