At the beginning of the year, Learer Company's manager estimated total direct labor cost assuming 40 persons working an average of 3.000 hours each at an average wage rate of $20 per hour. The manager also estimated the following manufacturing overhead costs for the year Indirect labor $ 321,200 Factory supervision 156,000 Rent on factory building 142,000 Factory utilities 90,000 Factory Insurance expired 70,000 Depreciation Factory equipment 490,000 Repairs expenso Factory equipment 62,000 Factory supplies used 70,000 Miscellaneous production 38,000 conta Total estimated overhead $1.440,000 costs At year-end, records show the company incurred $1,542,000 of actual overhead costs, it completed and sold five lobs with the following direct labor costs: Job 201, $506,000; Job 202, 9565,000; Job 203. $300,000: Job 204. S718.000 and Job 205, $316,000. In addition, Job 206 is in process at the end of the year and had been charged $19,000 for direct labor. No jobs were in process at the beginning of the year. The company's predetermined overhead rate is based on direct labor cost. Required 1-a. Determine the predetermined overhead rate for the year. 1-b. Determine the total overhead cost appiled to each of the six jobs during the year. 1-c. Determine the over- or underapplied overhead at the year-end. 2. Assuming that any over- or underapped 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. Reg 1B Reg 1C Reg 2 Reg 1A Determine the predetermined overhead rate for the year. Predetermined overhead rate Predetermined Choose Numerator: I Choose Denominator: = overhead rate Predetermined Overhead rate RO1A Reg 1B > At the beginning of the year, Learer Company's manager estimated total drect labor cost assuming 40 persons wondng an average of 3.000 hours each at an average wage rate of $20 per hour. The manager also estimated the following manufacturing overhead costs for the year Indirect labor S 321,200 Tactory supervision 156,000 Rent on factory building 142,000 Tactory utilities 90,000 Tactory insurance expired 70,000 Depreciation Factory 490,000 equipment Repaire expense Factory 62,000 equipment Tactory supplies used 70,000 Miscellaneous production 38,000 costs Total estimated overhead ed overhead $1.440.000 costs At year-end, records show the company incurred $1,542,000 of actual overhead costs. It completed and sold five jobs with the following direct labor costs: Job 201, $606,000: Job 202, 5565,000: Job 203. $300,000: Job 204, 5718,000 and Job 205, $316,000. In addition, Job 206 is in process at the end of the year and had been charged $19,000 for direct labor. No jobs were in process at the beginning of the year. The company's predetermined overhead rate is based on direct labor cost. Required 1-a. Determine the predetermined overhead rate for the year. 1-b. Determine the total overhead cost applied to each of the six jobs 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 underappiled overhead to Cost of Goods Sold at the end of the year. Complete this question by entering your answers in the tabs below. Labor Reg 1A Req 1B Req1C Reg 2 Determine the total overhead cost applied to each of the six jobs during the year. Job Direct Overhead cost applied 201 $606,000 202 566.000 203 300.000 204 718.000 316.000 206 19,000 Total 2.524.000 206 At the beginning of the year, Learer Company's manager estimated total drect labor cost assuming 40 persons working an average of 3.000 hours each at an average wage rate of $20 per hour. The manager also estimated the following manufacturing overhead costs for the year Indirect labor $ 321,200 Factory supervision 156,000 Rent on factosy building 142,000 Factory utilities 90,000 Factory insurance expired 70,000 Depreciation Factory 490,000 equipment Repaire expense Factory 62,000 equipment Factory supplies used 70,000 Miscellaneous production 38,000 costs Total estimated overhead cd overhead $1.440.000 costs At year-end, records show the company incurred $1,542,000 of actual overhead costs. It completed and sold five jobs with the following direct labor costs: Job 201, $606,000: Job 202, 5565,000: Job 203. $300,000; Job 204,718,000 and Job 205, $316,000. In addition, Job 206 is in process at the end of the year and had been charged $19,000 for direct labor. No jobs were in process at the beginning of the year. The company's predetermined overhead rate is based on direct labor cost. Required 1-a. Determine the predetermined overhead rate for the year. 1-b. Determine the total overhead cost applied to each of the six jobs 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. Reg 1A Reg 1B Reg 1C Reg 2 Determine the over- or underapplied overhead at the year-end. Factory Overhead Indirect labor $ 321,200 Factory supervision 156,000 Rent on factory building 142,000 Factory utilities 90,000 Factory insurance expired 70,000 Depreciation Factory 490,000 equipment Repairs expense Factory 62,000 equipment Factory supplies used 70,000 Miscellaneous production 38,000 costa Total estimated overhead $1.44.no costa At year-end, records show the company incurred $1,542,000 of actual overhead costs. It completed and sold five jobs with the following direct labor costs: Job 201, $506,000: Job 202, 9565,000: Job 203. $300,000: Job 204, 5718,000 and Job 205, $316,000. In addition Job 206 is in process at the end of the year and had been charged $19,000 for direct labor. No jobs were in process at the beginning of the year. The company's predetermined overhead rate is based on direct labor cost. Required 1-a. Determine the predetermined overhead rate for the year. 1-b. Determine the total overhead cost appiled to each of the six jobs during the year. 1-c. Determine the over- or underappiled 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. Reg 1A Req 18 Reg 1C Reg 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. Show less 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 Dec 31 Debit Credit Record entry Clear entry View general journal