At the beginning of the year, Learer Company's manager estimated total direct labor cost to be $2,517,000. The manager also estimated the following overhead costs for the year. Indirect labor Rent on factory building Factory utilities Depreciation-Factory equipment Repairs expense-Factory equipment Indirect materials Total estimated overhead costs $ 560,900 141,700 157,700 481,700 61,700 106,500 $ 1,510,200 For the year, the company incurred $1,525,100 of actual overhead costs. It completed and sold five jobs with the following direct labor costs: Job 201, $605,700; Job 202, $564,700; Job 203, $299,700; Job 204, $717,700; and Job 205, $315,700. In addition, Job 206 is in process at the end of the year and had been charged $18,700 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.