Part 3: Absorption Costing - Job Order (14 marks) Use this information for Questions 9-13 YVR Company has a job-order costing system. They apply manufacturing overhead cost to products based on the number of labour hours. The following estimates were used in preparing the predetermined overhead rate for the most recent year. Labour Hours Manufacturing OH Cost 95,000 $1,710,000 Given COVID-19, production slowed, sales decreased, and inventory accumulated in the company's warehouses. The company's cost records revealed the following actual cost and operating data for the year: Labour Hours Manufacturing OH Cost 75,000 $1,687,500 Amount of applied overhead in inventories at year-end: WIP Finished Goods COGS $337,500 $253,125 $759,375 Question 9 Compute the company's predetermined overhead rate for the year. 3 pts Question 10 Calculate the amount of under- or overapplied overhead for the year. 3 pts Question 11 4 pts Determine the difference between net income for the year if the under- or overapplied overhead is allocated proportionately to the different accounts rather than closed out directly to Cost of Goods Sold. Question 12 Write the Journal Entry to adjust under- or overapplied overhead. 2 pts Question 13 For YVR, are Labour Hours appropriate to allocate OH? Explain. 2 pts