Sommot Industries manufactures a variety of custom Company management wants to implement an products The company has traditionally used a activity based costing system so that managers plantwide manufacturing overhead rate based on know the cost of each product, including it's machine hours to akicate manufacturing overhead to hazardous waste disposal costs Expected its products The company estimates that it will incur usage and costs for manufacturing overheard $2 610,000 in total manufacturing overhead costs in activities for the upcoming your are as follows the upcoming year and will use 18,030 machine hours [TT) (Click the icon to view the expected Up to this point, hazardous waste disposal fees have boon absorbed into the plantwade manufacturing usage and costs.) overhead rate and allocated to all products as part of During the year, Job 354 is started and the manufacturing overhead process Recently, the completed Usage for this job folows company Has been experiencing significantly increased 1) (Click the icon to view the usage for waste disposal lees for hazardous waste generated by Job 354.) contain products, and as a result poll margins on all Requirement 1. Calculate the cost of Job 354 using the traditional plantwide manufacturing overhead rate based on machine hours Begin by calculating the predetermined manufacturing overhead rate. First, identify the formula used to compute the predetermined manufacturing overhead rate, then compute the rate. (Abbreviations used: MOH = manufacturing overhead) Predetermined manufacturing overhead rate Calculate the cost of Job 354