Problem 2-18 (Algo) Job-Order Costing for a Service Company [LO2-1, L02-2, LUZ-3] Speedy Auto Repairs uses a job-order costing system. The company's direct materials consist of replacement parts installed in customer vehicles. and its direct labor consists ofthe mechanics" hourly wages. Speedy's overhead costs include various items, such as the shop manager's salary, depreciation of equipment, utilities, insurance. and magazine subscriptions and refreshments for the waiting room. The company applies all of its overhead costs to jobs based on direct labor-hours. At the beginning ofthe year, it made the following estimates: Direct labor-hours required to support estimated output 46,000 Fixed overhead cost $ 505,000 Variable overhead cost per direct labor-hour 5 1.00 Required: 1. Compute the predetermined overhead rate. 2. During the year. Mr. Wilkes brought in his vehicle to replace his brakes, spark plugs. and tires. The following information was available with respect to hisjob: Direct materials 5 639 Direct labor cost S 19".:r Direct labor-hours used 4 Compute Mr. Wilkes' totaljob cost. 3. If Speedy establishes its selling prices using a markup percentage of 40% of its total job cost, then how much would it have charged Mr. Wilkes? Complete the question by entering your answers in the tabs given below. Required 1 Required 2 Required 3 Compute the predetermined overhead rate. (Round your answer to 2 decimal places.) Complete the question by entering your answers in the tabs given below. Required 1 Required 2 Required 3 Compute Mr. Wilkes' total job cost. (Round your intermediate calculations to 2 decimal places.) Direct materials Direct labor Overhead applied Total cost assigned to Mr. Wilkes $ Complete the question by entering your answers In the tabs given below. Required 1 Required 2 Required 3 If Speedy establishes its selling prices using a markup percentage of 40% of its total job cost, then how much would it have charged Mr. Wilkes? (Round your intermediate calculations to 2 decimal places.)