1)What was the Predetermined Overhead Rate used by UOT? Calculate the over/under applied overhead for the year and do a journal entry to allocate the difference directly to costs of goods sold. Be sure to show all calculations. Exhibit #3 shows a sample job cost sheet for a job performed in the year.

Exhibit #3 Sample Job Costs Sheet for a print job. UOT Corp Job Cost Sheet Job# P1589 Quantity 50,000 Item Menus Date Required 20-Jun-20 For ZZZ Food Date Completed 15-Jun-20 Direct Direct Direct MOH Date Materials Labour hours Labour Applied 5-Jun $ 2,000.00 65 1,300.00 325.00 10-Jun 65 1,300.00 325.00 15-Jun 50 S 1,000.00 250.00 Total $ 2,000.00 180 $ 3,600.00 900.00 Total Job Costs 6,500.00 Cost Per Unit 0.13Exhibit #1 Actual results for the year ended December 31, 2020 by department. Average Total Annual Printing Department Cost rate Activity Printing Staff $20 per hour 45,000 hours Print Materials $10 per lb 100,000 Ibs Machine Hours 8,320 hours Kitting Department Kitting Staff $25 per hour 44,000 hours Building B Shipping Department Shipping Staff $18 per hour 10,000 hours