Problem 2–16 plantwide predetermined overhead rates; pricing lo2–1, lo2–2, lo2–3 landen corporation uses a job-order costing system. at the beginning of the year, the company made the following estimates: during the year, job 550 was started and completed. the following information is available with respect to this job: required: 1. assume that landen has historically used a plantwide predetermined overhead rate with direct labor-hours as the allocation base. under this approach: a. compute the plantwide predetermined overhead rate. b. compute the total manufacturing cost of job 550. c. if landen uses a markup percentage of 200% of its total manufacturing cost, what selling price would it establish for job 550? 2. assume that landen’s controller believes that machine-hours is a better allocation base than direct labor-hours. under this approach: a. compute the plantwide predetermined overhead rate. b. compute the total manufacturing cost of job 550. c. if landen uses a markup percentage of 200% of its total manufacturing cost, what selling price would it establish for job 550? 3. assume that 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 jobs such as job 550?