Munoz Corporation uses ABC to determine product costs for external 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 Pook 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 $ 171,200 41,540 117,000 278,890 589,950 $ 1,198,580 Expected Activity < 26,750 DLHs 670 orders 1,200 tests 8,350 templates 51,750 MHs 77777 Required: < 1. Compute the activity rate (i.e., predetermined overhead rate) for each of the activity cost pools. (Round your answers to 2 decimal places.) < Activity Cost Pook Activity Rate Labour related per DLH Purchase orders 2 per order Product testing 12 per test Template etching General factory per template per MH 2. During the year, actual overhead cost and activity were recorded as follows: < Activity Cost Pook Labour related Purchase orders Product testing Template etching General factory < Total overhead cost Actual Overhead < Actual Activity 27,250 DLHS 660 orders $ Cost 162,640 45,690 119,340 273,310 601,750 8,200 templates 50,250 MHs 1,190 tests $ 1,202,730 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.) + Journal entry worksheet 1 < Record actual manufacturing overhead incurred for production. < Note: Enter debits before credits. Transaction 1 < e General Journale Debite Credit Record entry Clear entry View general journal Manufacturing Overhead b. Determine the amount of overhead cost applied to production during the year. (Round intermediate calculations to 2 decimal places and final answer to nearest dollar amount.) < Overhead cost applied 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.) Manufacturing Overhead d. Determine the amount of underapplied or overapplied manufacturing overhead for the year. (Round intermediate calculations to 2 decimal places and final answer to nearest dollar amount.) < manufacturing overhead 3. The actual activity for the year was distributed among the company's four products as follows: < Activity Cost Pool Labour related Purchase orders Product testing Template etching < General factory Actual Activity 27,250 DLHS 660 orders 1,190 tests 8,200 templates 50,250 MHs 170 1111 Product A 2,750 Product Be Product C 8,150 9,100 150 Product De 7,250 220 480 2,460 18,090 360 3,280 15,075 1900 1,640 12,060 120 160 820 5,025 a. Determine the total amount of overhead cost applied to each product. (Round intermediate calculations to 2 decimal places and final answers to nearest dollar amount.) 7777 Product A Product Be Product Ce Product De Total Overhead Cost b. Does the total amount of overhead cost applied to the products above relate to the T-accounts in any way? < Yes No