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Landen Corporation uses job$-$order costing. At the beginning of the year, it made the following estimates:Direct labor$-$hours required to support estimated production Machine$-$hours required to support estimated production$70,000$Fixed manufacturing overhead cost$$784,000$Variable manufacturing overhead cost per direct labor$-$hour$$2\mathrm{.}00$Variable manufacturing overhead cost per machine$-$hour$$4\mathrm{.}00$During the year, Job $550$ was started and completed. The following information pertains to this job:Direct materials$$175$Direct labor cost$$225$Direct labor$-$hours$15$Machine$-$hours$5$Assume Landen has historically used a plantwide predetermined overhead rate with direct labor$-$hours as the allocation base. Under this$*$ Compute the plantwide predetermined overhead rate.$*$ Compute the total manufacturing cost of Job $550.*$ If Landen uses a markup percentage of $200\%$ of its total manufacturing cost, what selling price would it establish for Job $550?2.$ Assume Landen's controller believes that machine$-$hours is a better allocation base than direct labor$-$hours. Under this approach:$*$ Compute the plantwide predetermined overhead rate.$*$ Compute the total manufacturing cost of Job $550.*$ If Landen uses a markup percentage of $200\%$ of its total manufacturing cost, what selling price would it establish for Job $550?3.$ Assume Landen's controller is right about machine$-$hours being a more accurate overhead cost allocation base than direct labor$-$hours. If the company continues to use direct labor$-$hours as its only overhead cost allocation base, what implications does this have for pricing such as job $550?$

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