Munoz Corporation uses ABC to determine product costs for extemal financial reports. At the beginning of the year, management made the following cost and activity estimates in the company's five activity cost pools: Activity Cost Pool Labour related Purchase orders Product testing Template etching General factory Activity Measure Direct labour hours Number of orders Number of tests Number of templates Machine-hours Estimated Overhead cost $ 178,200 42,840 122,500 282,240 603 200 $1,228,980 Expected activity 27,000 Duts 680 orders 1,250 tests 8,400 templates 52,000 Mhis Required: 1. Compute the activity rate (.e., predetermined overhead rate) for each of the activity cost pools. (Round your answers to 2 decima places.) Activity Cost Pool Labour related Purchase orders Product testing Template etching General factory Activity Rate per DLH per order per fest per template per MH 2. During the year, actual overhead cost and activity were recorded as follows: Actual Overhead 2. During the year, actual overhead cost and activity were recorded as follows: Activity Cost Pool Libour related Purchase orders Product testing Template etching General factory Total overhead cost Actual Overhem Cost $ 169,290 47,130 124,950 276,640 Actual Activity 27,500 DLHS 670 orders 1,240 tests 8,250 templates 50,500 MHS $1,233, 220 a. Prepare a journal entry to record the incurrence of actual manufacturing overhead cost for the year (credit accounts payable) Post the entry to the company's manufacturing overhead T-account. (If no entry is required for a particular transaction, select "No Journal entry required in the first account field.) View transaction list Journal entry worksheet c. Prepare a journal entry to record the application of manufacturing overhead cost to work in process for the year. Post the entry to the company's manufacturing overhead T-account. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field. Round intermediate calculations to 2 decimal places and final answers to nearest dollar amount.) View transaction list Journal entry worksheet