At the beginning of the year, Learer Company's manager estimated total direct labor cost assuming 50 persons we 2,500 hours each at an average wage rate of $20 per hour. The manager also estimated the following manufactum for the year. Indirect labor Factory supervision Rent on factory building Factory utilities Factory insurance expired Depreciation-Factory equipment Repairs expense-Factory equipment Factory supplies used Miscellaneous production costs Total estimated overhead costs $ 333,200 128.000 154,000 102,000 82,000 494,000 74,000 82,800 50,000 $1,500,000 ces labor No lobs At year-end, records show the company incurred $1,600,000 of actual overhead costs. It completed and sold five noi tienn: Inh202 $577,000; Job 203, $312,000: Job 204, $730,000; and Total estimated overhead costs At year-end, records show the company incurred $1,600,000 of actual overhead costs. It completed and sold five jobs with the following direct labor costs: Job 201, $618,000; Job 202, $577,000; Job 203, $312,000; Job 204, $730,000; and Job 205, $328,000. In addition, Job 206 is in process at the end of the year and had been charged $31,000 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. Determine the predetermined overhead rate for the year. Choose Numerator: Predetermined overhead rate | Choose Denominator: 1 Predetermined overhead rate Predetermined overhead rate 11 1 10 Reg 1A Reg 1B > Reg 1A Reg 1B Reg 1C Reg 2 Determine the total overhead cost applied to each of the s Job No. 'Direct Labor Overhead cost applied 201 $ 618,000 202 577,000 203 312,000 204 730,000 205 328,000 206 31,000 Total $ 2,596,000 Factory Overhead 1 > Record the entry to allocate any overapplied or underapplied overhead to Cost of Goods Sold at the end of the year. ote: Enter debits before credits. Date General Journal Debit Credit Dec 31