Please solve correctly and all 6 parts.

Thank you.

JIM Ltd has identified the following overhead costs and cost drivers for next year Expenses/cost Expected (cost) Selling cost 45,000 Administration Cost 35,000 Manufacturing overhead cost 108,000 Utilities cost store 12.000 Cost Drivers: Product X Machine Hours Product Y Direct Labour Hours Direct Labour Hours 12.000 hours Machine Hours 18,000 hours The following is the cost of 2 products made by the company: Product X Product Y Direct materials S4200 S2600 Direct Labor Hour Rate $10.50 $16.50 Units completed 150 200 DLH (hours) 560 420 Machine hours 660 240 Actual Cost S 3200 42100 REQUIRED 1. Calculate the Predetermined Rate (PR) for product X using machine hours and product Y using direct labour hours 2. What is the applied cost assigned to product X and product Y? 3. Calculate the total product cost using FBC for both products 4. Calculate the unit cost for each product 5. Is the applied cost for product X under or over-applied? What effect this will have on the cost of goods sold and the Net income? 6. Is the applied cost for product Y under or over-applied? What effect this will have on the cost of goods sold and the Net income