tpx appied on the basis of standard direct labor-hours. Variable manufacturing overhead should be $5.60 per standard direct labor-hour and fixed manufacturing overhead Lane Company manufactures a single product that requires a great deal of hand labor. Overhead cost is per year The company's product requires 4 pounds of matorial that has a standard cost of $12.00 per pound and 1.5 hours of direct labor time that has a standard rate of $13.80 per hour. produce 200,000 units of product during the most recent year. Actual activity and costs for the year follows: The company planned to operate at a denominator activity level of 300,000 direct labor-hours and to during the most recent year. Actual activity and costs for the year were as 240,000 390,000 Number of units produced Actual direct labor-hours worked Actual variable manufacturing overhead cost incurred Actual fixed manufacturing overhead cost incurred $1,248,000 $ 3,120,000 Required: 1. Compute the predetermined overhead rate for the year. Break the rate down into variable and foxed elements. (Round your answers to 2 decimal places) Predetermined overhead rate Variable rate Fixed rate per DLH per DLH per DLH 2 Prepare a standard cost card for the company's product.(Round your answers to 2 decimal places.) Direct materials Direct labor Variable overhead Fixed overhead Standard cost per unit pounds at DLHs at DLHs at DLHs at per pound 0.00 0.00 0.00 0.00 s 0.00 per DLH per DLH per DLH 3a.Compute the standard direct labor-hours allowed for the year's production. direct labor hours