3. TLC Company, produces various types of air con in the market. The company got a contract to supply 10 units of air con model ABC (Job 650) to HTT Sdn Bhd at a total selling price of $3,000,000. Direct materials and direct labour are 30% and 20% of total selling price respectively. TLC Company used machine hours as the basis to allocate its overhead cost to Job 650 and machine hours used by Job 650 is 2,000 hours. Total machine hours used for all jobs including Job 650 are 10,000 hours. Actual manufacturing overhead cost is 50% of total selling price. Calculate the following: a) b) c) Predetermined overhead rate Overhead applied for Job 650 Total cost for Job 650 (10 Marks) (10 Marks) (15 Marks)