At the beginning of the year, Learer Companys manager estimated total direct labor cost to be $2,510,000. The manager also estimated the following overhead costs for the year. Indirect labor $ 560,200 Rent on factory building 141,000 Factory utilities 157,000 DepreciationFactory equipment 481,000 Repairs expenseFactory equipment 61,000 Indirect materials 105,800 Total estimated overhead costs $ 1,506,000 For the year, the company incurred $1,523,000 of actual overhead costs. It completed and sold five jobs with the following direct labor costs: Job 201, $605,000; Job 202, $564,000; Job 203, $299,000; Job 204, $717,000; and Job 205, $315,000. In addition, Job 206 is in process at the end of the year and had been charged $18,000 for direct labor. No jobs were in process at the beginning of the year. The companys 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.