At the beginning of the yearr Learer Company's manager estimated total direct labor cost to be $2,515,000. The manager also estimated the following overhead costs for the year. Indirect labor $ 568,?68 Rent on factory building 141J569 Factory utilities ISTJSBB DepreciationFactory equipment 481JSBB Repairs expenseFactory equipment 61,568 Indirect materials 136,388 Total estimated overhead costs $ 1,539,039 For the year, the company incurred $1,524,500 of actual overhead costs. it completed and sold ve jobs with the following direct labor costs: Job 201, $605,500; Job 202, $554,500; Job 203, $299,500; Job 204, $?1?,500; and Job 205, $315,500. In addition, Job 205 is in process at the end ofthe year and had been charged $18,500 for direct labor. Nojobs 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 forlhe year. 1-b. Determine the overhead applied to each ofthe six jobs during the year. 1-1:. Determine the over or underapplied overhead at the year-end. 2. Prepare the entry to close any over or underapplied overhead to lCost of Goods Sold at year-end. Complete this question by entering 1your answers in the tabs below. Reg 1A Reg 13 Reg 1C Reg 2 Determine the predetermined overhead rate for the year. 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. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 1C Req 2 Determine the overhead applied to each of the six jobs during the year. Job Number Direct Labor Overhead applied 201 $ 605,500 202 564,500 203 299,500 204 717,500 205 315,500 206 18,500 Total $ 2,521,000 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. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 1C Req 2 Determine the over- or underapplied overhead at the year-end. Total actual overhead cost Total applied overhead 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. Complete this question by entering your answers in the tabs below. Req 1A Req 18 Req 10 Req 2 Prepare the entry to close any over- or underapplied overhead to Cost of Goods Sold at year-end. View transaction list Journal entry worksheet 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 General Journal Debit Credit December 31 Record entry Clear entry View general journal