ABC produces custom made evening wear. ABC uses a job-order costing system and allocates manufacturing overhead on the basis of direct labor dollars. It estimates the total direct labor cost will be $500,000 for the period. The estimated manufacturing overhead is $300,000 and the estimated machine hours are 12,000. The actual manufacturing costs for the period were $320,000, the actual direct labor cost was $600,000 and the actual machine hours used were 13,000 hours, The first job of the year is for one tuxedo which has accumulated $10,000 in direct materials and 150 hours of direct labour at a wage rate of $55 per hour The second job of the year is for one wedding dress which has accumulated $5.000 in direct materials and 250 hours of direct labour at a wage rate of $80 per hour. Required: NOTE: You must show all your calculations. If you show the answer only and if it is correct you will not receive any marks. 1. Compute the predetermined overhead rate that will be used during the period to apply manufacturing overhead to jobs. 2. Compute the manufacturing cost of the tuxedo, 3. Compute the manufacturing cost of the wedding dress 4. Compute the total amount of overhead applied to all jobs during the year 5. Compute the amount of over or under applied manufacturing overhead during the year. Specify if it is over or under applied 6. Prepare the journal entry to adjust for the over/under applied manufacturing overhead