At the beginning of the year. a company predicts total overhead costs of $710,400. The company applies overhead using machine hours and estimates it will use 1,480 machine hours during the year. What amount of overhead should be applied to Job 65A if thatjob uses 21 machine hours during January? At the beginning of the year, Learer Com panv's manager estimated total direct labor cost assuming 35 persons working an average of 2,000 hours each at an average wage rate of $40 per hour. The manager also estimated the following manufacturing overhead costs for the year. Indirect labor S 329,200 Factory supervision 354,000 Rent on factory building 150,000 Factory utilities 90,000 Factory insurance expired TE,000 DepreciationFactory equipment T56,000 Repairs expenseFactory equipment 20,000 Factory supplies used 20,300 Miscellaneous production costs 45:000 Total estimated overhead costs sllgEUIQUU At year-end, records show the company incurred $1,821,000 of actual overhead costs. It completed and sold ve jobs with the following direct labor costs: Job 201, $614,000; Job 202, $573,000; Job 203, $308,000; Job 204, $726,000; and Job 205, $324,000. In addition, Job 206 is in process at the end of the year and had been charged $21000 for direct labor. Nojobs were in process at the beginning of the year. The company's predetermined overhead rate is based on direct labor cost. Required 1-s. Determine the predetermined overhead rate for the year. 1-b. Determine the total overhead cost applied to each of the sixjobs during the year. 1-c. Determine the over- or underapplied overhead at the year-end. 2. Assuming that any over- or underapplied overhead is not material, prepare the adjusting entry to allocate any over- or underapplied overhead to Cost of Goods Sold at the end of the year. 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 Choose Numerator: 1 Choose Denominator: Predetermined overhead rate Predetermined overhead rate Req 1A Req 1B Req 1C Req 2 Determine the total overhead cost applied to each of the six jobs during the year. Job No. Direct Labor Overhead cost applied 201 $ 614,000 202 573,000 203 308,000 204 726,000 205 324,000 206 27,000 Total $ 2,572,000 Req 1A Req 1B Req 1C Req 2 Determine the over- or underapplied overhead at the year-end. Factory Overhead Req 1A Req 1B Req 1C Req 2 Assuming that any over- or underapplied overhead is not material, prepare the adjusting entry to allocate any over- or underapplied overhead to Cost of Goods Sold at the end of the year. View transaction list Journal entry worksheet Record the entry to allocate any overapplied or underapplied overhead to Cost of Goods Sold at the end of the year. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31