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In: Accounting8.Landen Corporationuses a job-order costing system. At the beginning of the year, thecompany made...8.Landen Corporationuses a job-order costing system. At the beginning of the year, thecompany made the following estimates:Direct labor-hoursrequired to support estimated production145,000Machine-hours required to supportestimated production72,500Fixed manufacturing overhead cost$406,000Variable manufacturing overhead costper direct labor-hour$4.40Variable manufacturing overhead costper machine-hour$8.80During the year, Job550 was started and completed. The following information isavailable with respect to this job:Direct materials$183Direct labor cost$295Direct labor-hours15Machine-hours5Required:2. Assume thatLanden’s controller believes that machine-hours is a betterallocation base than direct labor-hours. Under this approach:a. Compute theplantwide predetermined overhead rate.b. Compute the totalmanufacturing cost of Job 550.c. If Landen uses amarkup percentage of 200% of its total manufacturing cost, whatselling price would it establish for Job 550?(Round yourintermediate calculations to 2 decimal places. Round yourPredetermined Overhead Rate answers to 2 decimal places and allother answers to the nearest whole dollar.)