Job 007 entered into production on June 1 and was completed on July 12th. The company's cost records show the following information about the job: Machine-hours Direct labour-hours Direct materials cost Direct labour cost Department A B 450 75 70 140 $1,000 $1,100 $700 $900 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: Department A B Machine-hours 75,000 35,000 Direct labour-hours 30,000 70,000 Direct materials cost $160,000 $290,000 Manufacturing overhead cost $390,000 $705,000 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.