At the beginning of the year, Learer Company's manager estimated total direct labor cost to be 352508000. The manager also estimated the following overhead costs for the year. Indirect labor 5 566,800 Rent on Factory building 148,300 Factoryr utilities 156,300 Depreciat.i.onFai:tor3ur equipment 480,300 Repairs expenseFactory equipment 58,300 Indirect materials 105,600 Total estimated overhead costs $ 115945303 For the year, the company incurred $1,522,400 of actual overhead costs. It completed and sold ve 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 ofthe year and had been charged $17,800 for direct labor. Nojobs were in process at the beginning ofthe 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 sixjobs during the year. 1-:. Determine the over or underapplied overhead at the yearend. 1 Prepare the entry to close any over or underapplied overhead to Cost of Goods Sold at yearend. Complete this question by entering your answers in the labs below. Req 1A Req 1B Req 1c Req 2 Determine the predetermined overhead rate for the year. Predetermined overhead rate 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 $ 550,000 Rent on 'Factor'y building 148,800 Factoryr utilities 156,800 Depr'eciat.i.onFai:tor3ur equipment 488,800 Repairs expenseFactory equipment 50,800 Indirect materials 105,600 Total estimated overhead costs $ 1.1594399 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 ofthe year and had been charged $17,800 for direct labor. Nojobs 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 sixjobs during the year. 1-c. Determine the over or underapplied overhead at the year-end. 1 Prepare the entry to close any over or underapplied overhead to Cost of Goods Sold at yearend. Complete this question by entering your answers in the labs below. Req 1A Reg 18 Reg it: Red 2 Determine the overhead applied to each of the six jobs during the year. 504,800 583,800 298,800 716,800 314,800 Total $ 2,516,800 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 5 566,666 Rent on Factor\").r building 146,866 Factoryr utilities 156,866 DepreciationFactor}.I equipment 486,866 Repairs expenseFactory equipment 66,866 Indirect materials 165,666 Total estimated overhead costs $ 115345399 For the year, the company incurred $1,522,400 of actual overhead costs. It completed and sold fivejobs 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 ofthe year and had been charged $17,800 for direct labor. Nojobs were in process at the beginning ofthe 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 sixjobs during the year. 1-c. Determine the over or underapplied overhead at the yearend. 2. Prepare the entry to close any over or underapplied overhead to Cost of Goods Sold at yearend. Complete this question by entering your answers in the labs below. Req 1A Req 13 Req 1c Red 2 Determine the over or underapplied overhead at the year-end. Total actu al overh ead cost Total applied overhead cost = ( Rec] 13 Req 2 > 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, $116,800; and Job 205, $314,800. In addition, Job 206 is in process at the end ofthe year and had been charged $17,800 for direct labor. Nojobs were in process at the beginning ofthe year. The company's predetermined overhead rate is based on a percent of direct labor cost. Required: 1-n. Determine the predetermined overhead rate for the year. 1-b. Determine the overhead applied to each ofthe sixjobs during the year. 1-c. Determine the over or underapplied overhead at the yearend. 2. Prepare the entry to close any over or underapplied overhead to Cost of Goods Sold at yearend. Complete this question by entering your answers in the labs below. Req 1A Req IB Req to Ron 2 Prepare the entry to close any over or underapplied overhead to Cost of Goods Sold at yearend. View transaction list Journal entry worksheet Record the entry to allocate anyr overapplied or underapplied overhead to Cost of Goods Sold at the end of the year. Note: Enter debits before credits. December 31