At the beginning of the year, Learer Com pany'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 $ 329,200 Factory supervision 354,000 Rent on factory building 150,000 Factory utilities 93,000 Factory insurance expired TE,000 DepreciationFactory equipment 755,000 Repairs expenseFactory equipment T0,000 Factory supplies used ?Q,300 Miscellaneous production costs 46,000 Total estimated overhead costs 51'9501000 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 ofthe year and had been charged $27,000 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-o. 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 ofGoods 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: Choose Denominator: Predetermined overhead rate = Predetermined overhead rate 0 Complete thls question by entering your answers In the tabs below. 3'26 . 000 205 324 . 000 27 . 000 $ 2,572.000 Complete this question by entering your answers in the tabs below. Assessment Tool iFrame Req 1A Req 1B Req 1C Req 2 Determine the over- or underapplied overhead at the year-end. Factory Overhead Reg 1A Reg 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 31Clear entry View general Journal Record entry