PROBLEM #5 IGGY 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 180,000 Machine-hours required to support estimated production Fixed manufacturing overhead cost 90,000 $850,000 Variable manufacturing overhead cost per direct labor-hour $2.00 Variable manufacturing overhead cost per machine-hour $4.00 During the year, Job 567 was started and completed. The following information is available with respect to this job: Direct materials $275 Direct labor cost $235 Direct labor-hours 20 Machine-hours Required: 5 1. Assume that IGGY uses 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 567. c. If IGGY uses a markup percentage of 50% of its total manufacturing cost, what selling price would it establish for Job 567?