Question # 2 Marks: 10 A. Rahat bakers trying to setting up its predetermined overhead application rate for the year 2022. For that, they have estimated its overhead would be PKR 1750,000 and manufacturing would require 250,000 machine hours in the next year. At the end of the year, it found that actual overhead was PKR 2740,000 and manufacturing required 240,000 machine hours. I. II. What is the predetermined overhead rate? How much overhead was applied during the year? Was overhead Overapplied or under applied, and by what amount? Comment on using this exercise for better planning and controlling. III. IV