13:49 LTE ACC 320 b test 2.doc Costing Answer all questions and show your working Question 1 1: Function-based conting JIM Lad has identified the following overhead costs and cost drives for next year Express cost Expected (c) Selling cost 65 000 Administration Cost 45.000 Manufacturing overhead cost 28.000 Litilities are 22.000 Cost Driver Fatransactions Die Labour Hours 4500 Machine Hours 15.000 The following is the cost of products made by the company Direct materials Direct Laber Hour Rate Units completed DLH (hours) Machine hours Product Product Y 55200 S2600 529 50 514 50 350 150 460 320 75 SO REQUIRED 1. Calculate the Prodetermined Rate (PR) for product Xing machine houes and product Y using direct labeur hours 2. What is the applied cost assigned to product and product 3. Calculate the total product cost using FBC for both products 4. Calculate the unit cost for each product 5. Is the applied cost for each product andere over-applied 6. What are the disadvantages of FBC and what solution has been offered as alternative? 140 mark Question 2 Project Selection Dragon Products Company is considering the projects. The projects' cash flows are as follows: Cash Flow 0 1 2 PROJECT A (S10100 2500 15m