Southern Tacks is a furniture manufacturer. Southern Tacks' factory consists of two departments, Cutting and Polishing. All jobs pass through both departments. As at the start of March (1 March 2020) Southern Tacks had two jobs that were being worked on in its factory: Job 102 Job 103 Work in Process inventory as at 1 March Cutting Polishing Total Cost $ Notes Department Department $ $ 960 960 Partly completed in Cutting Dept. 2,840 2,840 Transferred from the Cutting Dept. to the Polishing Department. Still being worked on in the Polishing Dept. The following details were obtained from March Factory Manufacturing documents: Job 102 103 104 Direct Raw Materials Issued Cutting Department Polis Polishing Department $ $ 65 100 53 300 The following details relate to the Factory Operations during March 2020:- Job 1024 1034 104 Machine Operating Hours Cutting Department Polishing Department 252 404 100 1202 WA Job 102 1031 Direct Labour Hours Cutting Department Polishing Department 302 60 1502 1402 1041 # It Job 102 1034 1044 Direct Labour Hours Cutting Department Polishing Department 302 602 1502 1404 Estimated Factory Overheads for the year ending 30 June 2020.4 Indirect Materials Indirect Labour Electricity Depreciation on Factory Equipment Cutting Department $ 9,800 4,080 6,120 10,200 Polishing Department $ 2.400 7,600 5,520 6,000 You are required to: a. Calculate the Overhead application rate for the: i. Cutting Department ii. Polishing Department b. Give a reason why the business may have chosen different Overhead allocation rates for the different departments. + C. Calculate the total cost of producing each of the following Jobs as at 31 March 2020 show all your working: c. Calculate the total cost of producing each of the following Jobs as at 31 March 2020 show all your working: i. Job 102 ii. Job 103 iii. Job 104 d. Calculate the cost of work in process inventory as at 31 March 2020, given the following: Job 102 Was completed in the Cutting department, transferred to the Polishing Department and is still in progress. Job 103 Was completed in the Polishing department and sold on 25 March. Job 104 Was still being worked on in the Cutting department. e. Calculate the profit made on Job 103 given that Southern Tacks applies a mark-up of 150% on all goods sold. f. Explain why the amount of overhead applied to jobs during a period may not equal the actual overhead cost for the period