ABC Manufacturing uses a job order cost accounting system that charges overhead to jobs on the basis of direct labor cost. ABC used the following cost predictions: Factory overhead costs $1,100,150 and other other overhead cost $210,000, and direct labor costs of $788,000. At year-end, the companys records show that actual overhead costs for the year are $1,308,800, and actual direct labor costs are $787,000.

a. Determine the predetermined overhead rate for the year. ( round your answer to two decimal places) b. Compute the amount of overapplied or underapplied overhead. c. Prepare the adjusting entry to allocate the over- or underapplied overhead assuming the amount if immaterial.

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