Machine hours C1. Machinex Parts Ltd. produces ignitions switches for Toyatam cars. The company allocates manufacturing overhead on a plant- wide basis based on the machine hours each job uses. The budget data for the year ended December 31, 2019 is as follows: Budget Direct labour hours 7,300 hours 8,450 hours Depreciation for Head Office building $15,200 Factory supervisor salary $49,800 Depreciation on factory and equipment $61,500 Property taxes for factory $40,500 Advertising costs $18,000 Factory electricity and water costs $17.500 $72,500 Actual direct labour hours for the year was 6,700 hours and actual machine hours incurred for the year was 8,900 hours. Actual manufacturing costs incurred for the year was $189,450 Required: (7 Marks - Show all calculations) a. Compute the predetermined manufacturing overhead rate - round to the nearest cent. (2 marks) b. Calculate the amount of manufacturing overhead applied to jobs for the past year. (1 mark). c. Calculate the amount of under-applied or over-applied manufacturing overhead. (Indicate whether the amount is under or over- applied). (2 marks) d. Prepare the journal entry to dispose of the under or over applied manufacturing overhead. (2 marks) Debit Direct materials cost Account Name Credit