PART 2 Write your answer in the space provided Question 2.1. (12 marks) Good Bikes Ltd produces sport bikes. Good Bikes uses a normal-costing system and allocates production overhead using direct production labour cost. The following data are for 2019: Budgeted production overhead cost $125,000 Budgeted direct production labour cost $250,000 Actual production overhead cost $117,000 Actual direct production labour cost $228,000 Inventory balances on 31 December 2019 were as follows: Account Ending Balance 2019 allocated overhead cost in ending balance before proration Work-in-process $50,700 $10,260 Finished goods 245,050 29,640 Cost of goods sold 549,250 74,100