James Bond, Inc., has a job-order costing system. The company uses predetermined overhead rates in applying manufacturing overhead cost to individual jobs. The predetermined overhead rate in Department A is based on machine hours, and the rate in Department B is based on direct materials cost. At the beginning of the most recent year, the company's management made the following estimates for the year: Job 007 entered into production on June 11 and was completed on July 12 th. The company's cost records show the following information about the job: At the end of the year, the records of James Bond, Inc. showed the following actual cost and operating data for all jobs worked on during the year: Required: 1. Compute the predetermined overhead rates for Department A and Department B 2. Compute the total overhead cost applied to Job 007. 3. Compute the amount of underapplied or overapplied overhead in each department at the end of the current year