13 overhead rate LO P3, P4 2016, Learer Company's manager estimated next year's total direct labor cost assuming 45 persons working an average of 2,000 hours each at an average wage rate of $25 per hours The manager also estimated the following manufacturing over points costs for 2017. Factory supervision Rent on factory bullding 94,0 Factory insurance expired Repairs expense-Factory equipeent Factory supplies used Miscellaneous production costs Total estinated averhead costs 66,000 At the end of 2017, records show the company incurred $1,820,000 of actual overhead costs. It completed and sold five jobs with the lator costs Job 201. S610,000, Job 202. S569000 Job 203. S304000, Job 204. S722000; and Job 205, S32000 In addition, Job 206 is in process at the end of 2017 and had been charged $23,000 for direct labor. No jobs were in process at the end of 2016. The company's predetermir overhead rate is based on direct labor cost rate for 2017 1-b. Determine the total overhead cost applied to each of the six jobs during 2017 1-c. Determine the over or underappled overhead at year-end 2017 2. Assuming that any over- or underapplied overhead is not matenal, prepare the adjusting entry to allocate any over- or underapplied overhead to Cost of Goods Sold at the end of 2017 Req 1A Rea 1C Req 2 Type here to search 1-a. Determine the predetermined overhead rate for 2017 1-b. Determine the total overhead cost applied to each of the six jobs during 2017 1-c. Determine the over- or underapplied overhead at year-end 2017 2. Assuming that any over-or underapplied overhead is not material, prepare the adjusting entry overhead to Cost of Goods Sold at the end of 2017 Print Complete this question by entering your answers in the tabs below. Req 1A Req 18 Req 10 Req 2 Determine the predetermined overhead rate for 2017. d overhead rate hoose Numerator Ch tor overhead rate Req 1B > Prev O Type here to search rate for 2017 1-b. Determine the total overhead cost applied to each of the six jobs during 2017 the over- or underapplied that any over- or underapplied at year-end 2017 ad is not material, prepare the adjusting entry to allocate any ov overhead to Cost of Goods Sold at the end of 2017 Req 1A 201 $ 610,000 722,000 23000 Req 1C KPrev 13 of 14 O Type here to search Complete this question by entering your answers in the tabs below. Req 1A Req 1B Reg 1C Req 2 Determine the over- or underapplied overhead at year-end 2017. Req 1B Req 2>