Saved ent Job Cost Concepts 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 of the 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 of the year, it made the following estimates Direct labor.hours required to support estimated output Fixed overhead cost Variable overhed cost per direct labor-hour 32.000 $4,000 $ 1.00 Required: 1. Compare the predetermined overhead rate 2. During the ye, Mr. Wilkes brought in his vehicle to replace his brakes, spark plugs and tites. The following information was available with respect to his job. o Direct materials Direct labor cost Direct Labor hours used $16 5 Compute Mr. Wikes' totaljob.cost 3. If Speedy establishes its selling prices using a markup percentage of 50% of its totaljob cost then how much would it have charged ML Wikes? Complete the question by entering your answers in the tabs given below. i Type here to each ( 2 3 96 5 & 7 4 6 8 0 DAS E 20 T Y U P 1 s D F G H J K L t pause