1 Use the information provided below to answer the following questions: 1.1 1.1.1 Calculate the predetermined overhead rate according to each of the following bases: Product unit basis (2 marks) 1.1.2 Labour hour basis (3 marks) 1.1.3 Primary cost basis (expressed to two decimal places) (3 marks) 1.2 Calculate the manufacturing cost per unit using the following bases: 1.2.1 Product unit basis (3 marks) 1.2.2 Labour hour basis (3 marks) 1.3 Determine the value of the over-applied or under-applied overheads. INFORMATION The following is the budget of a manufacturing entity that produces only one type of product: (6 marks) Total Per unit Budgeted direct materials cost R? R30 Budgeted labour cost R? R24 Budgeted manufacturing overheads: R360 000 ? Fixed R240 000 ? Variable Budgeted direct labour hours Budgeted machine hours Budgeted production Additional information R120 000 ? ? hours 10 hours ? hours 7.5 hours 30 000 units The actual number of units produced was 32 000 and the actual overheads amounted to R400 000