Question 2 (10 marks) Kent Products uses a predetermined overhead application rate of $20 per labor hour. A review of the company's accounting records revealed budgeted manufacturing overhead for the year 2022 of $642,000, applied manufacturing overhead of $624,000, and under-applied overhead of $23,050. Required: a. Determine Kent's actual labor hours, budgeted labor hours, and actual manufacturing overhead. (6 marks) b. Present the necessary year-end journal entry to handle the under-applied overhead, assuming that the firm allocates over- or underapplied overhead to Cost of Goods Sold. (4 marks)