Shire Company's predetermined overhead rate is based on direct labor cost. Management estimates the company will incur $747,500 of overhead costs and $575,000 of direct labor cost for the period. During March, Shire began and completed Job 56. 1. What is the predetermined overhead rate for this period? 2. Use the information on the following job cost sheet to determine the total cost of Job 56. Complete this question by entering your answers in the tabs below. Required 1 Required 2 What is the predetermined overhead rate for this period? Numerator: Overhead Rate Denominator: Overhead Rate Estimated overhead cost Estimated direct labor Overhead rate = 0 Shire Company's predetermined overhead rate is based on direct labor cost. Management estimates the company will incur $747,500 of overhead costs and $575,000 of direct labor cost for the period. During March, Shire began and completed Job 56. 1. What is the predetermined overhead rate for this period? 2. Use the information on the following job cost sheet to determine the total cost of Job 56. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Use the information on the following job cost sheet to determine the total cost of Job 56. (Round your answers to the nearest dollar amount.) Customer's Name: Keiser Company Job Description: 3 customized systems Direct Materials JOB COST SHEET Job Number 56 Direct Labor Overhead Date Requisition Number Cost Time-Ticket Total Cost Cost Applied Number March 08 M-129 March 11 M-142 March 18 M-167 $ 5,000 T-306 $ 700 $ 910 7,000 T-432 1,250 1,625 3,640 T-456 1,250 1,625