Type of Cost Estimated total cost for the year Req. 1: Before the year began, Custom Fabric Ventures estimated the folowing costs for the year See Excel file: Estimated Annual Costs 2 Selline and Administrative salaries and expenses 3 Direct Labor (Estimated 40,000 DL hours @avera 210 000 rate of S12 per hou 40 000 50 000 Plant utilities Purchases of direct materials Lease and property taxes on the plan 120 000 30 000 8 Marketing expenses Depreclation on production equipment (equipment originally costing $700,000 three year ago is being depreciated over a 5 year useful life using straight-line depreciation. No salvage value is 9 expected.) 10 Indirect materials to be used in the plant 20000 12 14 15 16 17 First, fill in the missing costs. Then, calculate the company's predetermined manufacturing overhead rate, assuming the company uses direct labor hours as its allocation base: Req. 2: To realizc maximum efficiency and meet management's desired level of stock, how many Black & White handbags should be produced in Job 114? 20 21 Req. 3: The production engineers have given you the materials requirements for each Black & White handbag. Assume that no efficiencies in materials can be achieved by producing more than one unit per batch. Complete the Bill of Materials for Job #114 found below. Be sure to include number of units being produced in the Job as w as the total quantity needed of each direct material. 25 26 See Excel file: Bill of Materials