Question 2 a) Explain the rationale of using predetermined overhead rates instead of actual manufacturing overhead rates to apply manufacturing overhead costs to jobs. (4 marks) b) Saliha Sdn Bhd uses a job-order costing system. The company applies manufacturing overhead to jobs using a predetermined overhead rate based on direct labour-hours. Last year, manufacturing overhead and direct labour-hours were estimated at RM80,000 and 16,000 hours respectively, for the year. In June, Job #500 was completed. Materials costs on the job totalled RM1,500 and labour costs totalled RM2,400 at RM6 per hour. At the end of the year, it was determined that the company worked 15,000 direct labour-hours for the year, and incurred RM78,000 in actual manufacturing overhead costs. Required: i) Determine the predetermined overhead rate for the year. (2 marks) ii) Determine the amount of overhead charged to jobs during the year.(2 marks) ill) Determine the amount of under-applied or over-applied overhead for the year.(2 marks) iv) Assuming that 100 units were completed, determine the unit cost that would appear on the job cost sheet for Job #500. (4 marks) v) Will there be any significant difference in the product cost if plantwide rate based on machine hour were being used. Justify your answer. (4 marks)