At the beginning of the year, Learer Company's manager estimated total direct labor cost assuming 40 persons working an average of 3,000 hours each at an average wage rate of $20 per hour. The manager also estimated the following manufacturing overhead costs for the year. Indirect labor Factory Supervision Rent on factory building $ 336,200 276,000 157,000 Factory utilities 105,000 Factory insurance expired 85,000 Depreciation-Factory equipment 625,000 Repairs expense-Factory equipment Factory supplies used 77,000 85,000 S Miscellaneous production costs 53,000 Total estimated overhead costs $1,800,000 At year-end, records show the company incurred $1,979,000 of actual overhead costs. It completed and sold five jobs with the following direct labor costs: Job 201, $621,000; Job 202, $580,000, Job 203, $315,000: Job 204, $733,000, and Job 205, $331,000 In addition, Job 206 is in process at the end of the year and had been charged $34,000 for direct labor. No jobs were in process at the beginning of the year. The company's predetermined overhead rate 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- or underapplied overhead to Cost of Goods Sold at the end of the year 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- or un 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 Req 18 Req 1C Req 2 Determine the predetermined overhead rate for the year. Choose Numerator: 1 Predetermined overhead rate Choose Denominator: Predetermined overhead rate Predetermined overhead rate M Req 18> 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 o 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 Req B Req 1C Req 2 Determine the total overhead cost applied to each of the six jobs during the year. Job No. Direct Labor Overhead cost applied 201 $ 621,000 202 580,000 203 315,000 204 733,000 205 331,000 206 34,000 Total $ 2,614,000 > 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-a 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 Req 18 Req 1C Req 2 Determine the over- or underapplied overhead at the year-end. Factory Overhead Req 18 Req 2 > Che Assuming that any over- or underapplied overhead is not material, prepare the adjusting entry to allocate any over- or underapplie 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 Dec 31 General Journal Debit Credit Record entry Clear entry View general journal