Question #1 - Job Costing (25%) Buji Manufacturing uses departmental cost driver rates to allocate manufacturing overhead costs to products. Manufacturing overhead costs are allocated on the basis of machine-hours in the Machining Department and on the basis of direct labor cost in the Assembly Department. At the beginning of 2020, the following estimates were provided for the coming year: Machining Assembly Direct-labor hours 40.000 70.000 Machine-hours 90.000 30.000 Direct labor cost 400.000 800.000 Manufacturing overhead costs 650.000 420.000 At the end of 2020, the following data is recorded for all the jobs of the year Machining Assembly Direct-labor hours 30.000 65.000 Machine-hours 110.000 40.000 Direct labor cost 550.000 900.000 Manufacturing overhead costs 714.000 424.000 The accounting records of the company show the following data for Job #165: Machining Assembly Direct-labor hours 300 210 Machine-hours 75 25 Direct material cost $500 $400 Direct labor cost $200 $300 Required: 1. For Buji Manufacturing, what is the annual manufacturing overhead cost allocation rate for Machining Department? (2.5%) 2. For Buji Manufacturing, what is the annual manufacturing overhead cost allocation rate for Assembly Department? (2.5%) 3. What amount of total manufacturing costs will be allocated to Job #165? What is the per unit cost for Job #165 assuming that it consists of 500 units? (10%) 4. How much is the under or overallocation of overhead for machining and assembly department? Prepare the journal entries to write off the under or overallocation to COGS! (10%)