Required: (a) (b) Calculate the total overhead costs for the Savings and Loans departments after the re- apportionment of the costs from the support departments. (16 marks) The total manpower hours in the Savings department is estimated to be 40,000. Determine the overhead absorption rate in the Savings department and calculate the overhead costs of serving a customer for 15 minutes. (4 marks) The National Savings Bank has two revenue generating departments Savings and Loans. and two support departments - information Technology (\"l7") and Administration (\"Admin\"). The following information is extracted from the budget for the coming nancial year: Savings Loans Admin E Estimated overhead costs $200,000 $400,000 $600,000 $116,000 Estimated personnel hours 8.000 Estimated computer hours 2.000 The Admin department provides support to all other three departments. while the lT department provides support only to the Savings and Loans departments. The estimated support work provided by the support departments is as follows: Savings Loans Admin E Total Admin to 4,000 2,400 - 1,600 8.000 (Budgeted personnel hours) tho 400 1.600 - - 2.000 (Budgeted computer hours) (a) (b) Determine the accumulated total costs of each job as at 30 November. (11 marks) Determine the underapplied or overapplied overhead for November. Prepare a journal entry to close any balance in the Manufacturing Overhead account to Cost of Goods Sold. (5 marks) SIM Industrial Pte Ltd uses a joborder costing system and applies manufacturing overhead to jobs using a predetermined overhead rate based on direct labour hours. At the beginning of the year, the company estimated manufacturing overhead for the year would be $240,000 and direct labour hours would be 8,000. The following information pertains to November of the current year: Job 10 Job 11 Job 12 M Work-in-process, Nov. 1 $16,000 $26,000 $38,000 $80,000 November production activity: Materials requisitioned $4,000 $4,800 $7,200 $16,000 Direct labour cost $2,400 $3,600 $4,000 $10,000 Machine hours 400 700 900 2,000 The direct labour cost per hour is $20. Actual manufacturing overhead cost incurred in November was $18,000