Question Two ( Cumpulsory) i) The budgeted and actual data of Agama Lafiya Product Company for the year ended 2019 are as follows: Budgeted Actual Direct labour hours Direct Wages Machine hours Direct Materials Units Produced Overheads 4,500 N170,000 5,050 275,000 60,000 315,000 4,950 177,500 4,875 269,500 61,485 307,500 The cost Accountant of Agama Lafiya product company has decided that overhead should be absorbed on the basis of labour hours. ROD: a) Calculate the amount of under- or over absorbed overheads for the company. b) What will be your answer if the actual production level is 4000 units and the actual overheads remain the same. ii) Find the EOQ where the forcasted demand is 2000 units per month the ordering cost is N700 per order, the unit cost N16 each and is estimated that carrying cost are 15% per annum