At the beginning of the year, Learer Company's manager estimated total direct labor cost to be $2,500,000. The manager also estimated the following overhead costs for the year. Indirect labor kent on factory building Factory utilities Depreciation-Factory equipment Iepairs expense-Factory equipment Indirect materials Total estimated overhead costs $ 559,200 140,000 156,000 480,000 60,000 104,800 $1,500,000 For the year, the company incurred $1.520,000 of actual overhead costs. It completed and sold five jobs with the following direct labor costs: Job 201, 5604,000: Job 202 $563.000, Job 203, S298,000; Job 204, $716.000, and Job 205. $31.000. In addition, Job 206 is in process at the end of the year and had been charged $17.000 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 ovet or underapplied overhead at the year end. 2. Prepare the entiy 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. Aeg 1A Reg 13 Req 1C Reg2 Complete this question by entering your answers in the tabs below. Reg 1A Reg 1B Req 10 Req2 Determine the over or underapplied overhead at the year-end. Factory Overhead 1,520,000 Actual overhead cost Underapplied overhead 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. General Journal Debit Credit Date December 31 Record entry Clear entry View general journal