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PROBLEM 3 The Donaldson Company uses a job-order cost system. The following data were recorded for December 2018 Direct Direct Direct labor Job MaterialsLabor Hours Number 101 $ 2000 $300 150 201 $ 1700 $ 900 450 $1,900 $1,500 750 Donaldson uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead to jobs. For year 2019, the company estimated manufacturing overhead cost of $300,000 based on an estimated activity level of 100,000 direct labor hours. The actual Overheads for December 2019 was $ 4,250. During December 2019,Jobs 101 and 201 were completed and transferred to finished goods. Job 301 is still in process. REQUIRED 301 1. Determined the Predetermined Overhead rate for 2019 [4 points) 2. Determined to Manufacturing Overhead applied to each job [6 points] 3. Determine the cost of each Job completed during December 2019, using a separate Job Cost Card for each one of them [6 points) 4. Determine the over or under applied overhead for the month of December 2019 and explain how the cost of Goods Sold and the Gross Profit should be adjusted [5 points] 5. Explain briefly (in less than 150 words) why the use of a POR (Predetermine Overhead Allocation Rate) is necessary for costing purposes (4 points)