Benson Company and Campbell 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.

	Benson Company				Campbell Company
Actual manufacturing overhead	$	134,150			$	275,400
Actual direct labor hours		21,000				29,000
Underapplied overhead						11,500
Overapplied overhead	$	26,500

Required

1. Compute the predetermined overhead rate for each company.

2. Using T-accounts, record the entry to close the overapp