2. Jonah Company has decided to use a predetermined rate to assign factory overhead to production. The following predictions have been made for 2018: Estimate total factory overhead costs $270,000 Estimate direct labor hours Estimate direct labor costs Estimate machine hours 50,000 DLH 40,000 MH 52,000 DLH 42,000 MH $135,000 Actual direct labor hours Actual direct labor costs Actual machine hours $150,000 Required: a. Compute the predetermined factory overhead rate under three different bases: (1) direct labor bours, (2) b. Assume that actual factory overhead was $280,000 and that Jonah Company elected to apply factory overhead direct labor costs, and (3) machine hours. (Round amounts to 2 decimal places.) to Work in Process based on machine hours i. Was factory overhcad or 2018 over- or under-applied? How much? ii. Give the jounal entry to record the application of overhead Cost of Goods Sold at the end of the year. Give the journal entry necessary at the end of 2018 to dispose of c. Jonah Company follows the policy of writing off any under- or over-applied Factory Overhead balance to the Factory Overhead balance determined in Part (b)