3. Edwards and Associates, an auditing firm operating in Barbados, uses a job costing system. There were no audit jobs in process at the beginning of April. The data below relate to three audit jobs conducted by Edwards and Associates during April. Bay Street Shop Lopinot Inn Piarco Roti Shop Direct materials $1 200 $800 $400 Auditor labour costs Auditor hours $10 800 $13.200 $3.375 144 176 90 Edwards and Associates estimated overhead costs and auditor hours for April at $21 000 and 420 hours respectively. Overheads are applied on the basis of auditor hours. Actual overhead costs incurred during April was $21 500. The Bay Street Shop audit was the only incomplete job at the end of April. Required (0) Determine the pre-determined overhead application rate for Edwards and Associates. (ii) Determine the cost of EACH job. (iii) Determine the cost of jobs completed during April. (iv) Determine the cost of ending work-in-progress for April. (v) Calculate the ending balance in the overheads accounts at the end of April and indicate whether overheads were over-applied or under-applied. 1 mark 9 marks 2 marks 1 mark