The following information pertains to Glass Works Company for 2019. Budgeted direct-labour cost: --------------------------------75,000 hours at $16 per hour Actual direct-labour cost: ------------------------------------80,000 hours at $17.50 per hour. Budgeted Manufacturing Overhead: ---------------------$ 997,500 Actual Manufacturing Overhead: Depreciation ------------------------------------------------- $ 240,000 Property Taxes---------------------------------------------------12,000 Indirect Labour --------------------------------------------------82,000 Supervisory Salaries --------------------------------------------200,000 Utilities------------------------------------------------------------ 59,000 Insurance ----------------------------------------------------------30,000 Rental of Space-------------------------------------------------- 300,000 Indirect Material --------------------------------------------------- 79,000 Required a) Compute the firms predetermined overhead rate, which is based on direct-labour hours. (4 marks) b) Calculate the over-applied or under-applied overhead for 2019. (4 marks) c) Prepare a journal entry to close out the Manufacturing Overhead Account into Cost of Goods Sold. (2 marks) d) Activity based costing (ABC) is an alternative method of allocating overheads. How is ABC useful to managers? (10 marks)