At the beginning of the year, Learer Company's manager estimated total direct labor cost to be $2,514,000. 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 $ 560,600 141,400 157,400 481,400 61,400 106,200 $ 1,508,400 For the year, the company incurred $1,524,200 of actual overhead costs. It completed and sold five jobs with the following direct labor costs: Job 201, $605,400; Job 202, $564,400; Job 203, $299,400; Job 204, $717,400; and Job 205, $315,400. In addition, Job 206 is in process at the end of the year and had been charged $18,400 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.