Applying Factory Overhead Jernigan Company estimates that total factory overhead costs will be $102,000 for the year. Direct labor hours are estimated to be 14.000 a. For Jernigan Company, determine the predetermined factory overhead rate using direct labor hours at the activity base. It required, round your answer to two decimal places per direct labor hour b. During August. Jernigan Company accumulated 060 hours of direct labor costs on Job 40 and 560 hours on 30b 42. Determine the amount of factory overhead applied to Jobs 40 and 42 in August c. Prepare the journal entry to apply factory overhead to both jobs in August according to the predetermined overhead rate