Sunshine Equipment uses a job-order costing system in which predetermined overhead rates are used to apply manufacturing overhead cost to jobs. The predetermined overhead rate in the Assembly Department is based on machine- hours, and the rate in the Finishing Department is based on direct labour cost. At the beginning of the year, the company's management made the following estimates Department Machine-hours Direct materials cost . _ _ _ . . _ _ . . . Direct labour cost Manufacturing overhead cost Assembly 24,000 140,000 $1,020,000 $260,000 $1,204,000 Finishing 120,000 16,000 $1,300,000 $840,000 $1,470,000 Job 107 was started on September 5 and completed on September 20. The company's cost records show the following information concerning the job Department Direct labour-hours . . . . - Machine-hours Materials placed into production Assembly 60 220 $940 $580 Finishing 170 40 $664 $1360 . Required (a) Compute the predetermined overhead rate used during the year in the Assembly Department. Compute the rate used in the Finishing Department. (3 Marks) (b) Compute the total overhead cost applied to Job 107. (3 Marks) (c) What would be the total cost recorded for Job 107? If the job contained 100 units, what would be the unit product cost? (3 Marks) (d) At the end of the year, the records of Sunshine Equipment revealed the following actual cost and operating data for all jobs worked on during the year Department Assembly 20,000 130,000 $860,000 $216,000 $1,140,000 Finishing 124,000 18,000 $1,360,000 $872,000 $1,500,000 Machine-hours Manufacturing overhead cost What was the amount of under or overapplied overhead in each department at the end the year