At the beginning of the year, Learer Company's manager estimated total direct labor cost to be $2,508,000. 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. $560,000 140,800 156,800 480,800 60,800 105,600 $ 1,504,800 For the year, the company incurred $1,522,400 of actual overhead costs. It completed and sold five jobs with the following direct labor costs: Job 201, $604,800; Job 202, $563,800; Job 203, $298,800; Job 204, $716,800; and Job 205, $314,800. In addition, Job 206 is in process at the end of the year and had been charged $17,800 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. Complete this question by entering your answers in the tabs below. Req 1A Req 18 Req 1C Req 2 Determine the predetermined overhead rate for the year. Predetermined overhead rate Numerator: / Denominator: Predetermined overhead rate Predetermined overhead rate 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 ye Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 1C Req 2 Determine the overhead applied to each of the six jobs during the yea Job Number Direct Labor Overhead applied 201 $ 604,800 202 563,800 203 298,800 204 716,800 205 314,800 206 17,800 Total $ 2,516,800 < Req 1A Req 1C > 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 a Complete this question by entering your answers in the tabs below. Req 1A Req 1B Red 1C Req 2 Determine the over- or underapplied overhead at the year-end. Total actual overhead cost Total applied overhead cost < Req 1B Req 2 > Prepare the entry to close any over- or underapplied overhead to Cost of Goods Sold at year-end. 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 December 31 General Journal Debit Credit Record entry Clear entry View general journal Prev 1 of 5