8.

At the beginning of the year, Learer Company's manager estimated total direct labor cost to be $2,513,000. The manager also estimated the following overhead costs for the year. Indirect labor $ 560,500 Rent on factory building 141,300 Factory utilities 157,300 DepreciationFactory equipment 481,300 Repairs expenseFactory equipment 61,300 Indirect materials 106,100 Total estimated overhead costs $ 1.507.800 For the year, the company incurred $1,523,900 of actual overhead costs. It completed and sold ve jobs with the following direct labor costs: Job 201, $605,300; Job 202, $564,300; Job 203, $299,300; Job 204, $717,300; and Job 205, $315,300. In addition, Job 206 is in process at the end of the year and had been charged $18,300 for direct labor. Nojobs 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 sixjobs 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 yearend. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 1C Req 2 Determine the predetermined overhead rate for the year. Predetermined overhead rate Numerator: Denominator: = Predetermined overhead rate = Predetermined overhead rate 0