BASIC Exercise 5 You are given the following information regarding the Bantex Manufacturer Company: Budgeted information: Labour hours 72 000 Production costs: Direct materials R96 000 Direct labour R72 000 Overheads R144 000 Actual information for March 20x3: Direct material costs Direct labour costs Job no. Direct labour hours 5 R1 920 R1 760 1600 6 R1 200 R1 440 1520 Required 5.1 Calculate the predetermined overhead rates based on the 5.1.1 material cost basis 5.1.2 labour hours basis 5.2 Calculate the total costs of 5.2.1 job 5 if overheads are absorbed on the basis of material cost 5.2.2 job 6 if overheads are absorbed on the basis of labour hours 5.3 Calculate the selling price of the jobs if the mark-up is 20% on cost