2) The Light Company is a light fixture manufacturer. They have been in business for 10 years. The company uses labour hours as its activity base for assigning overhead costs to jobs. The Light Company uses job order costing. The company estimated the following amounts for 2019 and for Job XY12: Job XY12 $4,000 2,500 Direct materials. Direct labour..... Manufacturing overhead costs. Machine hours Direct labour hours. Company $60,000 $25,000 $72,000 90,000 1,250 1,350 125 The actual labour hours totalled 1,280 hours, and actual overhead costs were $70,000. Instructions a) Calculate the predetermined overhead rate used by The Light Company, b) Calculate the total manufacturing costs of Job XY12. Calculate the selling price of the job if the job is sold 100% above cost. c) How much overhead is over- or under-applied for the year for the company