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 estimated production Machine-hours required to support estimated production Fixed manufacturing overhead cost Variable manufacturing overhead cost per direct labor-hour Variable manufacturing overhead cost per machine-hour 88,888 48,888 $248,808 $ 1.88 $ 3.6e During the year, Job 550 was started and completed. The following Information is avallable with respect to this Job: Direct materials Direct labor cost Direct labor-hours Machine-hours $ 207 $ 257 15 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 ratee b. Compute the total manufacturing cost of Job 550 C. If Landen uses a markup percentage of 200% of lts total manufacturing cost, what selling price would 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 total manufacturing cost of Job 550 C. If Landen uses a markup percentage of 200% of Its total manufacturing cost, what selling price would t establish for Job 550? Round your Intermediete calculatlons to 2 declmal places. Round your Predetermined Overhead Rate answers to 2 declmal places and all other answers to the nearest whole dollar.)