QUESTION 2 (25 Marks) The following cost data relate to the manufacturing activities of Leenette Enterprise during the most recent year: RM Manufacturing overbead costs incurred during the year: Property taxes 9,600 Factory utilities 10,600 Indirect labour 10,300 Depreciation factory 9,000 Insurance: factory 10,500 Other costs incurred during the year: Purchases of raw materials 56,000 Direct labour cost 87,000 Inventories: Begin raw materials 28.000 Ending raw material 29,000 Beginning work in process 16.000 Ending work in process 14,000 Begin finished goods 42,000 Ending finished goods 54,000 Additional Information: Indirect materials included in the manufacturing overhead incurred 3,000 The company applies manufacturing overhead job using a predetermined overhead rate based on direct-labour hours. At the beginning of the year, the estimated total manufacturing overhead cost was RM80,000 and direct labour hour is 16,000 hours. It was found that the actual direct labour hour is 11,000 hours. Required: a) Determine the predetermined overhead rate for the year (3 marks) b) Determine the manufacturing overhead applied to the job (2 marks) c) Compute the over/under applied overhead (4 marks) d) Prepare the schedule of cost of goods manufactured for the year (10 marks) e) Prepare the schedule of cost of goods sold for the year (6 marks) Page 3 of 3