Requirements 1. Compute Pierpont Computer Company's predetermined overhead allocation rate for 2024. 2. Compute the total cost of each job. 3. Why does Pierpont assign costs to jobs? Print Done - X Pierpont Computer Company uses a job order costing system in which each batch manufactured is a different job. Pierpont Computer Company assigns direct materials and direct labor to each job. The company assigns labor costs at $20 per hour. It allocates manufacturing overhead to jobs based on a predetermined overhead allocation rate. computed as a percentage of direct labor costs. At the beginning of 2024, the controller prepared the following budget (Click the icon to view the budget.) In November 2024, Pierpont Computer Company worked on several jobs. Records for two jobs appear here: (Click the icon to view the records for the two jobs.) Read the requirements. Requirement 1. Compute Pierpont Computer Company's predetermined overhead (OH) allocation rate for 2024 = Predetermined OH allocation rate = % Data table Direct labor hours Direct materials -X Recor Job 721 Job 722 750 hours 120 hours $ 22,300 $ 2,400 verhead Print Done = Data table Manufacturing overhead Direct labor costs - X s. Re $ 336,000 $ 1,200,000 overha Print Done