Lumix Printing Company uses a job order cost system to collect the cost incurred for their printing services. The company receives job order from schools, government agencies, companies and individuals. There are three main jobs involved; Job A, B and C. Manufacturing overhead is applied to jobs based on the following basis: In establishing the predetermined rates for the year 2022, the following estimated data are available: During March 2022, the job cost sheets showed the following cost and production data: Job No. B and C are completed during the month. However, only job No. C was sold on credit to customer at a profit margin of 45%. Required (a) Compute the predetermined overhead rate for each job. (b) Prepare summary journal entries to record the following transactions in the month of March 2022: i) raw materials requisitioned ii) factory labour used iii) the assignment of manufacturing overhead to jobs iv) the completion of Job B and C. v) sales of Job C Show all your workings. (c) Prepare the Work in Process Inventory account for the month of March. (d) Determine whether manufacturing overhead is under-or overapplied for each job on 31 March 2022