Baird Company and Benson Company both apply overhead to the Work in Process Inventory account using direct labor hours. The following information is available for both companies for the year.

	Baird Company	Benson Company
Actual manufacturing overhead	$ 151,500	$ 213,550
Actual direct labor hours	24,000	21,000
Underapplied overhead		13,000
Overapplied overhead	$ 22,500

Required

Compute the predetermined overhead rate for each company.

Using T-accounts, record the entry to close the overapplied or underapplied overhead at the end of the accounting period for each company, assuming the amounts are immaterial.

Compute the predetermined overhead rate for each company. Note: Round your answers to 2 decimal places. Using T-accounts, record the entry to close the overapplied or underapplied overhead at the end of the accounting period for each company, assuming th amounts are immaterial