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do each and every step asap [ 40 marks Question 3 Tomson Lid has identified the following overhead costs and cost drivers for next year

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[ 40 marks Question 3 Tomson Lid has identified the following overhead costs and cost drivers for next year Overhead liems (Budgeted E costs Power 27,000 Maintenance cost 17,800 Ordering cost 8.150 Cost Driver (Budgeted] E activity) Number of orders 4.000 Machine Hours 5.000 Kilowatt hours 52000 The following is one of the jobs completed during the year Product A Product B Direct materials $2200 SI Direct Labour S 2500 S3030 Units completed 210 400 # of orders 40 21 Machine hours 350 256 Kilowatt hours 400 Actual overhead S1800 SISSO 200 The company's policy uses machine hours as the activity for FBC method REQUIRED Part 1 1. Calculate the predetermined rate for the plant using FBC based on machine hours for each job 2. Calculate total product cost using FBC based on Machine hours for each job 3. Calculate the unit cost for each Product 4. Is the overhead over-applied or under-applied? Part 2 5. Calculate the predetermined rate for the plant using ABC based on machine hours for each job 6. Calculate product cost under ABC. 7. Calculate the unit cost for each Product (ABC) 8. Is the overhead over-applied or under-applied under ABC? 9. Why does FBC differ for ABC methods ? [30 marks]

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