kindly provide a detailed explanation on the solution provided, so that i can solve on my own.

Blast it Said David Wilson, President of Teledex Company. Weve just lost the bid on the Koopers job by $2,000. It seems were either too high to get the job or too low to make any money on half the jobs we bid. Teledex Company manufactures products to customers specification and operates a job order system. Manufacturing overhead cost is applied to jobs on the basis of direct labor cost. The following estimates were made were made at the beginning of the year: Department Fabrication Machining Assembly Total Plant Direct Labor $200,000 $100,000 $300,000 $600,000 Manufacturing Overhead $350,000 $400,000 $90,000 $840,000 Jobs require varying amounts of work in the three departments. The Koopers job for example, would have required manufacturing costs in the three departments as follows: Department Fabrication Machining Assembly Total Plant Direct Materials $3,000 $200 $1,400 $4,600 Direct Labor $2,800 $500 $6,200 $9,500 Manufacturing Overhead ? ? ? ? The company uses a plant wide overhead rate to apply manufacturing overhead cost to jobs. Required: 1. Assuming use of a plant wide overhead rate: a. Compute the rate for the current year. b. Determine the amount of manufacturing overhead cost that would have been applied to Koopers job. 2. Suppose that instead of using plantwide overhead rate, the company had used a separate predetermined overhead rate in each department. Under these conditions: a. Compute the rate for each department for the current year. b. Determine the amount of manufacturing overhead cost that would have been applied to the Koopers job.

3. Explain the difference between the manufacturing overhead that would have been applied to the Koopers job using plantwide rate in question 1 (b) and using the departmental rates in question 2 (b). 4. Assume that it is customary in the industry to bid jobs at 150% of the total manufacturing cost (direct materials, direct labor, and applied overhead). What was the companys bid price on the Koopes job? What would the bid price have been if departmental overhead rates had been used to apply overhead cost? 5. At the end of the year, the company estimated the following actual data relating to all job worked on during the year: Department Fabrication Machining Assembly Total Plant Direct Materials $190,000 $16,000 $114,000 $320,000 Direct Labor $210,000 $108,000 $262,000 $580,000 Manufacturing Overhead $360,000 $420,000 $84,000 $864,000 Compute the underapplied or overapplied overhead for the year (a) assuming that a plantwide overhead rate rates are used and (b) assuming that departmental overhead rates is used.