i. The SULTAN and MICHAEL-LOVING Company uses direct labor hours for estimating factory overhead rate. An estimated factory overhead (or Budgeted factory overhead) is $500,000 for the year. An estimated direct labor cost for the year is $100,000, and estimated direct labor hours for the year is 250,000 hours. The following additional information is provided: Beginning work in process is $300,000; Actual Direct Labor cost is $150,000; Actual Cost of Direct Materials used is $200,000; actual direct labor hours used 200,000 hours; and the total amount reported in the Factory Overhead Control Account is $450,000. The ending balance in the work in process account is $100,000; no beginning balance in the finished goods account as the company tries to apply the "pull" processing method of inventory management. However, there is an ending balance in the Finished Goods account of $50,000. The company made sales on account of $1,200,000. Required: a) Determine the pre-determined overhead rate and show your computation completely. b) Determine the over or under applied overhead. c) What is the current manufacturing cost? d) What is the total manufacturing cost? e) What is the cost of goods manufactured or Cost of Finished goods