Jensen Company manufactures a single product. Selected data from the company's cost records for two recent months are given below. Level of Activity March - Low September - High 9,000 12,000 $285,000 $390,000 14,000 22,000 Number of units produced Cost of goods manufactured Work in process inventory, beginning Work in process inventory, ending Direct materials cost per unit Direct labour cost per unit Manufacturing overhead cost, total 25,000 15,000 15 15 6 6 ? ? The company's manufacturing overhead cost consists of both variable and fixed cost elements. To have data available for planning, management wants to determine how much of the overhead cost is variable with units produced and how much of it is fixed per year. Required: Required: a) For both March and September, construct a schedule of Cost of Goods Manufactured in order to estimate the amount of manufacturing overhead cost added to production. The company had no underapplied or overapplied overhead in either month. (5 marks) b) Using the high-low method, estimate a cost formula for manufacturing overhead. Express the variable portion of the formula in terms of a variable rate per unit of product. (7 marks) C) If 9,500 units are produced during the month of December, what will the cost of Goods Manufactured be? Assume that the company's beginning work in process inventory for the month is $16,000 and that its ending work in process inventory is $19,000. Also, assume that there is no underapplied or overapplied overhead cost for the month. (6 marks)