At the beginning of the year, Learer Company's manager estimated total direct labor cost to be $2,504,000. The manager also estimated the following overhead costs for the year. ces Indirect labor Rent on factory building Factory utilities Depreciation-Factory equipment Repairs expense-Factory equipment Indirect materials Total estimated overhead costs $ 559,600 140,400 156,400 480,400 60,400 105,200 $ 1,502,400 For the year, the company incurred $1,521,200 of actual overhead costs. It completed and sold five jobs with the following direct labor costs: Job 201, $604,400; Job 202, $563,400; Job 203, $298,400; Job 204, $716,400; and Job 205, $314,400. In addition, Job 206 is in process at the end of the year and had been charged $17,400 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.

th the beginning of the year, Learer Company's manager estimated total direct labor cost to be $2,504,000. The manager also stimated the following overhead costs for the year. For the year, the company incurred $1,521,200 of actual overhead costs. It completed and sold five jobs with the following direct labor costs: Job 201, \$604,400; Job 202, \$563,400; Job 203, \$298,400; Job 204, \$716,400; and Job 205, \$314,400. In addition, Job 206 is in process at the end of the year and had been charged $17,400 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. Determine the predetermined overhead rate for the year. Determine the overhead applied to each of the six jobs during the year. Determine the over- or underapplied overhead at the year-end. 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