The following information pertains to Glass Works Company for 2014. Budgeted direct-labour cost: --66,000 hours at $16 per hour Actual direct-labour cost: -95,000 hours at $17.50 per hour. Budgeted Manufacturing Overhead: -$ 950,300 Actual Manufacturing Overhead: Depreciation $ 260,000 Property Taxes-- -15,000 Indirect Labour -80,000 -210,000 Supervisory Salaries Utilities-- 59,000 Insurance -33,000 Rental of Space -301,000 Indirect Material 78,000 Required a) Compute the firm's predetermined overhead rate, which is based on direct-labour hours. (3 marks) b) Calculate the overapplied or underapplied overhead for 2014. (4 marks) C) Prepare a journal entry to close out the Manufacturing Overhead Account into Cost of Goods Sold