Kay Kee Limited (KKL) is a company that manufactures customized toy racing cars complete with all kinds of gadgetry. KKL purchases all the components (direct materials) but assembles and finishes the cars in two departments: assembly and finishing. Assembly is a labour-intensive process, whereas finishing is machine intensive. For 2018, KKL has developed the following estimates Overhead amount Direct labour-hours Direct labour rate per hour Machine-hours Assembly Finishing $420,600 $639,850 51,000 $ 20.00 15.00 18,440 130,600 7,980 During January 2015, it received and started processing orders from three customers, whose details are as follows Job 2018-K001 800 $108 13.0 10.0 0.3 0.6 Job 2018-S001 300 123 7.0 10.0 0.7 Job 2018-M001 Number of cars Direct materials/unit Direct labour-hours/unit (assembly) Direct labour-hours/unit (finishing) Machine-hours/unit (assembly) Machine-hours/unit (finishing) 700 3.0 0.6 $ 49 Assume the direct labour rate during January was the same as estimated at the beginning of the year During the month, KKL completed jobs 2018-S001 and 2018-M001 but was able to complete only 75% oof the units required to complete job 2018-K001. The assembly department incurred overhead amounting to $48,370 during the month, whereas the finishing department incurred $61,670 Required 1. Compute the prime costs incurred by each job during the month. Job 2018-K001 Job 2018-S001 Job 2018-MO01 Prime costs 2. Compute the amount of overhead that would have been applied to assembly and finishing departments (Round "Predetermined overhead allocation rate" to 2 decimal places.) Assembly Finishing Estimated overhead Estimated direct labour-hours Estimated machine-hours Predetermined overhead allocation rate per DLH per MH