Prompton industries uses job costing to calculate the costs of its jobs with cirect labor cost as its manufacturing overhead allocation bise (i) (Click the icon to view additional information.) Read the requirements. Requirement 1. What is Prompton's predetermined manufacturing overhead rate based on direct labor (DL) cost? Determine the formula to calculate Prompton's predotermined overhead rate based on direct labor costs, then calculate the rate The company marufactures a variety of engines lor use in farm equiprisem. AN the bepinning of the current year, Promplon estimated that is overhead for the comserd yoar would be $324,800. It aiso anticipated using 29,000 direct labor hours tor the yoar. Promplon pays its employeos an average of $28 per direct labor houk. Prompton just finished Job 371 , which consisted of two engines for a tarm equipment manufacturer. The costs and hours for this job consinted of $14,000 in direct matenals used and 125 diroct labor hours Requirements 1. What is Promptoris predelermined munutacturing overhead rate basod on direct labor coat? 2. Calalate the manufacturing overhead to be allocalod basad on diroct labor cont to Job 371 3. What is the total cost of Job 371