The Purple Peace Candle Company is reexamining its pricing based upon a recent report from a consultant. Currently, the company uses a volume based pricing system with direct labor hours as the cost driver. They are considering a system using machine hours as the cost driver. The company estimates the following: . Estimated Total Direct Labor Hours: 50,000 Estimated Total Machine Hours: 200,000 Estimated Total Manufacturing Overhead: $2,000,000 Each batch is produced in batches of 1,000 candles The Batch ticket for Batch 197 for the Specialty Purple Candle shows the following: Batch Number 197 Direct Labor-Candle Makers John - 10 hours @$10 per hour Barry- 15 hours @ $20 per hour Carla-20 hours @ $15 per hour Other Information: Candles produced: 1,000 Direct Material Wicks-20 spools @ $30 per spool Wax-100 pounds@ $2 per pound Jars-60 boxes@ $25 per box Machine hours used: 250 machine hours Use the information above to answer questions 1 through 4. Show and label all of your work, identifying all portions of the cost (round to the nearest penny). Use of cost sheets is optional. Question 1 6 pts What is the predetermined overhead rate if direct labor hours are used to allocate manufacturing overhead? (show your work) HTML Editor Paragraph Rich Text Area. Pre Question 2 15 pts Compute the cost of one candle using direct labor hours to allocated manufacturing overhead. Show and label all of your work, identifying all portions of the cost (round to the nearest penny). Use of the job cost sheets is optional. HTML Editor U A Paragraph 0 words 6 pts | Question 3 What is the predetermined overhead rate if machine hours are used to allocate manufacturing overhead? (show your work) HTML Editor Paragraph 15 pts Question 4 Compute the cost of one candle using machine hours to allocated manufacturing overhead. Show and label all of your work, identifying all portions of the cost (round to the nearest penny). Use of the job cost sheets is optional. HTML Editor Paragraph