Problem 2-16 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: Direct labor-hours required to support estinated production Machine-hours required to support estimated production Fixed manufacturing overhead cost Variable manufacturing overhead cost per direct 1abor-hour Variable manufacturing overhead cost per machine-hour 120,eee 6e,eee $336,00e 3.6e 7.20 During the year. Job 550 was started and completed. The following information is available with respect to this job: Direct materials Direct labor cost Direct labor-hours Machine-hours S 2e6 s 238 15 Required: 1. Assume that Landen has historically used a plantwide predetermined overhead rate with direct labor-hours as the aliocation base Under this approach a. Compute the plantwide predetermined overhead rate b. Compute the total manufacturing cost of Job 550 CIP Landen uses a markup percentage of 200% of Its tota manufacturing cost, what selling price would it establish for Job 5507 2 Assume that Landen's controler believes that machine-nours is a better a ocation base than direct sbor-hours. Undertnis approacn a Compute the plantwide oredetermined overhesd rate. Compute the totalimanufacturing cost of Job 550 e Landen uses a markup percentege of 200 of its tota manufacturing cost what sell ng price woditesteblish for Joo 650P Round your Intermedlete calculations to 2 decimal places. Round your "Precdetermined Overhead Rote" answers to 2 decimel places and all other answers to the nearest whole dollar)