Problem 3-16 (Algo) Plantwide Predetermined Overhead Rates; Pricing (LO3-1, LO3-2, LO3-3) 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 105, eee 52, 5ee $294, eee $ 3.00 $ 6.ee During the year, Job 550 was started and completed. The following information is available with respect to this job: $ 229 $ 293 Direct materials Direct labor cost Direct labor-hours Machine-hours 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 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 Rate answers to 2 decimal places and all other answers to the nearest whole dollar.) a per DLH Direct labor-hours Predetermined overhead rate Total manufacturing cost of Job 550 Selling price b Machine-hours: a Predetermined overhead rate b. Total manufacturing cost of Job 550 por MH c. Selling price