9:41-tooUE 6 Document View Problem 2 10 points ABC Company is a Custom Kitchen Firm. The following costs were incurred in the firm's project to install a new kitchen for a restaurant: Direct Material $22,000 Direct Labor 44,000 The firm's budget for the year included the following estimates: Budgeted Overhead $425,000 / Budgeted Direct Labor $250,000 Overhead is applied to jobs by using a predetermined overhead rate that uses direct labor dollars as the base. Actual Direct Labor during the year was $210,000 and actual overhead for the year was $392,000. Required: A. Determine the total cost (this will include the big three) to install the kitchen (using the application of the predetermined overhead rate). B. Calculate the under or over applied overhead for this project. Hint: compute the actual overhead rate for the year. The information to compute the actual overhead rate for the year are given above. BEE? E Helpful Unhelpful Ask Expert Tutors