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Marine Components produces parts for airplanes and ships. The parts are produced to specification by their customers, who pay either a fixed price (the price does not depend directly on the cost of the job) or price equal to recorded cost plus a fored fee (cost plus). For the upcoming year (year 2). Marine expects only two clients (client 1 and client 2). The work done for clients will all be done under fixed price contracts while the work done for client will all be done under cost plus contracts. Manufacturing overhead for year 2 is estimated to be 58 million Other budgeted data for year 2 include the following allent et Machine hour's (thousands) 2,000 Direct labor cost (5000) Required: a. Compute the predetermined rate assuming that Marine Components uses machine hours to apply overhead b. Compute the predetermined rate assuming that Marine Components uses direct labor cost to apply overhead Complete this question by entering your answers in the tabs below. Required A Required B Compute the predetermined rate assuming that Marine Components uses machine-hours to apply overhead. (Round your answer to 2 decimal places.) Application rate per machine hour Required 8 > Complete this question by entering your answers in the tabs below. Required A Required B Compute the predetermined rate assuming that Marine Components uses direct labor cost to apply o Application rate % of direct labor cost Exercise 7-35 (Algo) Applying Overhead Using a Predetermined Rate (LO 7-3) Mary's Landscaping uses a job order cost system. The following debits (credits) appeared in Work In Process Inventory for August Description Amount August 1 Balance $ 14,000 For the month Direct materials 1,100 For the month Direct labor 54,900 For the month Factory overhead 42,273 For the month To finished goods (161,100) Mary's applies overhead to production at a predetermined rate of 77 percent based on direct labor cost Job 3318, which was started during August and is the only job still in process at the end of August, has been charged direct labor of $6.100. Required: What cost amount of direct materials was charged to Job 3318? Direct materials

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