Setups Purchasing Machining $70000 $20000 Tec Machine Hours retActivity Drivers$52000 Purchase orders Number of setups 4000 Job 520 Direct materials Direct Labour760 Machine Hours Number of setups Purchase orders Direct Labor Hours Actual cost $25000 $35500 45 40 1525 $17500 REQUIRED on 1. Using functional-based costing find the predetermined rate based direct labour hours hours 2. Calculate the applied cost 3. Did management over-appli ed or under-applied overhead cost. By how much will COGS increase or decrease.? Setups Purchasing Machining $70000 $20000 Tec Machine Hours retActivity Drivers$52000 Purchase orders Number of setups 4000 Job 520 Direct materials Direct Labour760 Machine Hours Number of setups Purchase orders Direct Labor Hours Actual cost $25000 $35500 45 40 1525 $17500 REQUIRED on 1. Using functional-based costing find the predetermined rate based direct labour hours hours 2. Calculate the applied cost 3. Did management over-appli ed or under-applied overhead cost. By how much will COGS increase or decrease