Hunter Corporation uses ABC to determine product costs for external financial reports. At the beginning of the year, management made the following cost and activity estimates in the company's five activity cost pools: Activity Estimated Expected Activity Cost Pool Measure Overhead Cost Activity Labour related Direct labour-hours $ 391, 500 58,000 DLHS 20 Production orders Number of orders 147, 250 1, 550 orders points Materials receipts Number of receipts 62,500 1, 250 receipts Relay assembly Number of relays 418, 000 9, 500 relays Skipped General factory Machine-hours 1, 232, 500 72, 500 MHS $2, 251, 750 Required: 1. Compute the activity rate (i.e., predetermined overhead rate) for each of the activity cost pools. (Round your answers to 2 decimal places.) Activity Cost Pool Activity Rate Labour related per DLH Production orders per order Material receipts per receipt Relay assembly per relay General factory per MH2. During the year, actual overhead cost and activity were recorded as follows: 4 Actual Activity Cost Pool Overhead Cost Actual Activity Labour related $ 196,560 31,000 DLHS Production orders 67,009 1, 500 orders Materials receipts 65, 500 1, 400 receipts Relay assembly 413, 600 9, 400 relays 20 General factory 1, 242, 350 73,950 MHS points Total overhead cost $1, 985,010 Skipped a. Prepare a journal entry to record the incurrence of actual manufacturing overhead cost for the year (credit accounts payable). Post the entry to the company's manufacturing overhead T-account. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record actual manufacturing overhead costs incurred during the period. Note: Enter debits before credits.a. Prepare a journal entry to record the incurrence of actual manufacturing overhead cost for the year (credit accounts payable). Post 4 the entry to the company's manufacturing overhead T-account. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field.) View transaction list 20 points Journal entry worksheet Skipped Record actual manufacturing overhead costs incurred during the period. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal4 Manufacturing Overhead 20 points Skipped b. Determine the amount of overhead cost applied to production during the year. Overhead cost applied c. Prepare a journal entry to record the application of manufacturing overhead cost to work in process for the year. Post the entry to the company's manufacturing overhead T-account. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheetc. Prepare a journal entry to record the application of manufacturing overhead cost to work in process for the year. Post the entry to 4 the company's manufacturing overhead T-account. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field.) View transaction list 20 points Journal entry worksheet Skipped Record applied manufacturing overhead based on predetermined overhead rate. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal4 Manufacturing Overhead 20 points Skipped d. Determine the amount of underapplied or overapplied manufacturing overhead for the year. manufacturing overhead3. The actual activity for the year was distributed among the company's four products as follows: 4 Activity Cost Pool Actual Activity Product A Product B Product C Product D Labour related 31, 000 DLHS 7,700 10,700 3, 800 8,800 Production orders 1, 500 orders 340 430 280 450 Materials receipts 1, 400 receipts 110 490 260 540 Relay assembly 9,400 relays 3,525 5,875 0 20 General factory 73,950 MHS 15, 750 21, 800 17, 030 19, 400 points Skipped a. Determine the total amount of overhead cost applied to each product. (Do not round intermediate calculations.) Total Overhead Cost Product A Product B Product C Product D b. Does the total amount of overhead cost applied to the products above tie in to the T-accounts in any way? O Yes O No