At the beginning of the year, Learer Company's manager estimated total direct labor cost to be $2,506,000. The manager also estimated the following overhead costs for the year. For the year, the company incurred $1,521,800 of actual overhead costs. It completed and sold five jobs with the following direct labor costs: Job 201, $604,600; Job 202, $563,600; Job 203, $298,600; Job 204, $716,600; and Job 205 , $314,600. In addition, Job 206 is in process at the end of the year and had been charged $17,600 for direct labor. No jobs were in process at the beginning of the year. The company's predetermined overhead rate is based 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