Please put correct answer in the underlined space provided. ABC Company uses a job-order costing system and a predetermined overhead rate based on machine hours. Atthe beginning of the vear. the company estimated the followinas: Factory overhead $ 50.000 Machine hours 8.000 The following information pertains to December of the currentvear: Job 101 Job 201 Job 301 Work-in-Process. December 1 6.000 1.500 Materials requisitioned $ 1.200 $ 2.500 800 650 Directlabor cost 1.000 $ 400 250 Actual machine hours 300 200 100 Actual manufacturing overhead incurred in December $ 5.000 The Company bills completed job atcostolus 50%. Required: a) _Compute the predetermined overhead application rate. (1 Mark ) b) Determine the costs of the three jobs. (6 Marks ) Job 101 Job 201 Job 301 c) IfJob 101 was completed. whatis the balance of Work-in-process (1 Mark ) as atDecember 31? d) Compute the billina price of Job 1. (1 Mark ) e) If there was no balance in the Overhead Control accounton (2 Marks ) on December 1. whatis the balance as at December 31