At the beginning of the year, Learer Companys manager estimated total direct labor cost to be $2,500,000. The manager also estimated the following overhead costs for the year.

Indirect labor	$ 559,200
Rent on factory building	140,000
Factory utilities	156,000
DepreciationFactory equipment	480,000
Repairs expenseFactory equipment	60,000
Indirect materials	104,800
Total estimated overhead costs	$ 1,500,000

For the year, the company incurred $1,520,000 of actual overhead costs. It completed and sold five jobs with the following direct labor costs: Job 201, $604,000; Job 202, $563,000; Job 203, $298,000; Job 204, $716,000; and Job 205, $314,000. In addition, Job 206 is in process at the end of the year and had been charged $17,000 for direct labor. No jobs were in process at the beginning of the year. The companys predetermined overhead rate isbased 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 six jobs 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 year-end.

Determine the over- or underapplied overhead at the year-end