On 1 January 2023, Bob Teo set up Safe Pte Ltd to manufacture and sell face masks. He manages the company single-handedly and at the end of the year, he prepared the following correctly prepared. However, he is unable to identify the error. Hence, he approached you for help to review the statement. To help you in your review, Bob Teo has also provided the following additional information: (i) The factory occupies 80% of the rented building, the sales area 15% and the administration area 5%. (ii) All the company's non-current assets are estimated to have a useful life of 5 years and no salvage value at the end of their useful life. (iii) Bob Teo spends 50% of his time as factory manager and the remaining time equally on sales and general administration. (iv) Electricity \& utilities costs are consumed almost entirely by the factory. (v) Cleaning costs are to be allocated to factory, sales and general administration based on the areas occupied. At 31 December 2023, the following inventories existed: Assuming Safe Pte Ltd uses normal costing and applies manufacturing overhead based on direct labour cost and if the pre-determined manufacturing overhead rate is 135%, determine the cost of goods manufactured. Compute the MOH variance and pass the journal entry to close off the Manufacturing Overhead Control account assuming that the MOH variance is immaterial. (8 marks)