Please answer & explain these 3 questions clearly. Please ensure that your answers are correct. Thank you

Bitfrost uses a job order costing system. Four jobs were started during the current year. The following is a record of the coste inm.... During the year, Jobs 1,3 , and 4 were completed, and Jobs I and 3 were sold for $740,000. Assume that this is Bitfrost's first year of operations: Required: 1. Calculate the predetermined overhead rate. ( 1 mark) 2. Calculate the balance in the Work In Process Inventory, Finished Goods Inventory, and Cost of Goods Sold accounts. ( 7 marks) 3. Does the Factory Overhead account balance indicate an over - or under- application of overhead and by how much? ( 2 marks)