201 6 points 01 References At the beginning of the year, Learer Company's manager estimated total direct labor cost to be $2,502,000. The manager also estimated the following overhead costs for the year. Indirect labor Rent on factory building Factory utilities Depreciation-Factory equipment Repairs expense-Factory equipment Indirect materials Total estimated overhead costs $559,400 140,200 156,200 480,200 68,200 105,000 $ 1,501,200 For the year, the company incurred $1520,600 of actual overhead costs. It completed and sold five jobs with the following direct labor costs: Job 201, $604,200, Job 202, $563,200; Job 203, $298,200; Job 204, $716,200, and Job 205, $314,200. In addition, Job 206 is in process at the end of the year and had been charged $17.200 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. Mc Req LA Req 18 Req 10 Reg 2 Determine the predetermined overhead rate for the year. Predetermined overhead rate Numerator Denominator Deau . Predetermined overhead rate Predetermined overhead rate Next Check my work