Lyric Technology, Inc., has a job-order costing system. The company uses predetermined overhead rates in applying manufacturing overhead cost to individual jobs. The predeter- mined overhead rate in Department A is based on machine hours, and the rate in Department B is based on direct materials cost. At the beginning of the most recent year, the company's management made the following estimates for the year: Machine-hours Direct labour-hours Direct materials cost Manufacturing overhead cost Department A B 61,000 20,000 28,000 66,000 $156,000 $284,000 $385,000 $705,000 c.) Compute the amount of underapplied or overapplied over- head in department A at the end of the current year. Required: a.) Compute the predetermined overhead rates for Department A and Department B. Machine-hours Direct labour-hours Direct materials cost Direct labour cost Manufacturing overhead cost Department B 70,000 19,000 30,000 60,000 $195,000 $282,000 $260,000 $520,000 $420,000 $705,000 b.) Compute the total overhead cost applied to Job 243. d.) How would Lyric adjust for the amount in c) above when completing their financial statements? Assume that all inventory accounts are properly stated. Prepare the journal entry. Job 243 entered into production on April 1 and was completed on May 12. The job was subsequently sold on May 31 for $8,500. The company's cost records show the following information about the job: Department A B 250 60 70 120 $840 $1,100 $610 $880 End of document I Machine-hours Direct labour-hours Direct materials cost Direct labour cost 6. Show the journal entries to record the cost for this job. a) applied overhead b) completion of this job. At the end of the year, the records of Lyric showed the following actual cost and operating data for all jobs worked on during the year: c) delivery of this job to the customer