At the beginning of the year, Learer Company's manager estimated total direct labor cost assuming 55 persons working an average of 2.000 hours each at an average wage rate of $20 per hour. The manager also estimated the following manufacturing overhead costs for the year 17 Indirect labor Factory supervision Rent on factory building Factory utflities Factory Insurance expired Depreciation Factory equipment Repairs expense-Factory equipment Factory supplies used Miscellaneous production costs Total estimated overhead costs $ 261,200 156,000 152,000 100,000 30,000 480,000 72,000 80,000 48.000 $1,430,000 At year-end records show the company incurred $1711,000 of actual overhead costs. It completed and sold five jobs with the following direct labor costs Job 201. $616,000, Job 202. $575,000: Job 203. S310,000 Job 204. $728,000, and Job 205, $326,000. In addition, Job 206 is in process at the end of the year and had been charged $29,000 for direct labor. No jobs were in process at the beginning of the year. The company's predetermined overhead tate 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- of 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 Req 1C Reg 2 Determine the predetermined overhead rate for the year. Puedetermined.overhead te Choose Denominator Choose Numerator Predetermined overhead rate Predetermined overhead rate 1 Factory utilities Factory insurance expired Depreciation-Factory equipment Repairs expense-Factory equipment Factory supplies used Miscellaneous production costs Total estimated overhead costs 100,000 80,000 480,000 72,000 89,800 48,00e $ $1,430,000 At year-end, records show the company incurred $1,711,000 of actual overhead co direct labor costs: Job 201. $616,000: Job 202, $575.000; Job 203. $310,000: Job addition, Job 206 is in process at the end of the year and had been charged $29. beginning of the year. The company's predetermined overhead rate is based on di 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 ye 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 a 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 Req 10 Reg 2 Determine the total overhead cost applied to each of the six jobs during the year. Job No. Direct Labor Overhead cost applied 201 202 203 204 205 $ 616,000 575,000 310,000 728.000 326,000 29,000 $ 2,584,000 206 Total ractory supervision Rent on factory building Factory utilities Factory insurance expired Depreciation-Factory equipment Repairs expense-Factory equipment Factory supplies used Miscellaneous production costs Total estimated overhead costs 150, 152,000 100,000 80,000 480,000 72,000 80,800 48.000 $1,430,000 At year-end, records show the company incurred $1,711,000 of actual overhead costs. It compl direct labor costs: Job 201, $616,000: Job 202. $575.000, Job 203. $310,000. Job 204. $728, addition, Job 206 is in process at the end of the year and had been charged $29,000 for direc beginning of the year. The company's predetermined overhead rate is based on direct labore Required 1-6. 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 en 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 Req 1C Reg 2 Determine the over- or underapplied overhead at the year-end. Factory Overhead 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 overhead to Cost of Goods Sold at the end of the year. Complete this question by entering your answers in the tabs below. Req 1A Reg 1B Reg 10 Reg 2 Assuming that any over- or underapplied overhead is not material, prepare the adjusting entry to alloc overhead to Cost of Goods Sold at the end of the year. View transaction list Journal entry worksheet 1 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 31 Record entry Clear entry View general journal