Red Raptor Ltd., manufactures custom large scale fibre-glass dinosaurs for display. They assign each job a unique job number and each project is considered unique. The company uses a joborder costing system and applies manufacturing overhead costs to products based on the machine hours attached to machines. The company estimated the following costs at the beginning of the year: a) Compute the pre-determined rate to be used for the assignment of overhead costs for the year. (1 mark) Job T-Rex \#221 has the following costs: b) Compute the total Cost for Job T-Rex \#221 (2 marks) Due to a significant slow down in the global economy there was a significant cut-back in orders for the year. This resulted in significant variances from the previously estimated amounts. The costs are as follows: c) Compute the underapplied or overapplied overhead for the year ( 2 marks) d) Prepare the journal entry to show the disposal of the under/overapplied overhead, using both the proration & cost of goods sold approach ( 3 marks) e) Discuss the impact the slowdown on the application of manufacturing overhead (2 marks)