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At the beginning of the year, Learer Company's manager estimated total direct labor cost to be $2,515,000. The manager also estimated the following overhead costs for the year. Indirect labor $ 560, 700 Rent on factory building 141, 500 Factory utilities 157,500 Depreciation-Factory equipment 481,500 Repairs expense-Factory equipment 61,500 Indirect materials 106,300 Total estimated overhead costs $ 1,509,080 For the year, the company incurred $1,524,500 of actual overhead costs. It completed and sold five jobs with the following direct labor costs: Job 201, $605,500; Job 202, $564,500; Job 203, $299,500; Job 204, $717,500; and Job 205, $315,500. In addition, Job 206 is in process at the end of the year and had been charged $18,500 for direct labor. No jobs were in process at the beginning of the year. The company's predetermined overhead rate is based on a percent of direct labor cost. Required 1-a. Determine the predetermined overhead rate for the year. 1-b. Determine the overhead applied to each of the six jobs during the year. 1-c. Determine the over- or underapplied overhead at the year-end. 2. Prepare the entry to close any over- or underapplied overhead to Cost of Goods Sold at year-end. Complete this question by entering your answers in the tabs below. Req 1A Req 18 Req 1C Req 2 Determine the predetermined overhead rate for the year. Predetermined overhead rate Numerator: Denominator = Predetermined overhead rate Predetermined overhead rate Complete this question by entering your answers in the tabs below. Req 1A Req 18 Req IC Req 2 Determine the overhead applied to each of the six jobs during the year. Jab Number Direct Labor Overhead applied 201 $ 605,500 202 564.500 203 299.500 204 717 500 205 315.500 206 18.500 Total $ 2.521,000 Req 14 Req 1B Req IC Reg 2 Determine the over- or underapplied overhead at the year-end. Factory Overhead Req 1A Req 1B Req 1C Reg 2 Prepare the entry to close any over- or underapplied overhead to Cost of Goods Sold at year-end. View transaction list Journal entry worksheet