Chec 7 At the beginning of the year, Learer Company's manager estimated total direct lobor cost assuming 40 persons working an averag of 3.000 hours each at an average wage rate of $20 per hour. The manager also estimated the following manufacturing overhead cosis for the year 148 points book Indirect labor Factory supervision Rent on factory building Factory utilities Factory insurance expired Depreciation-Factory equipment Repairs expense-Factory equipment Factory supplies used Miscellaneous production costs Total estimated overhead costs $_321,200 156,000 142,000 90,000 70,000 490,000 62,000 70,000 38.000 $1,440.000 Print Deferences At year-end, records show the company incurred $1,542,000 of actual overhead costs, it completed and sold five jobs with the following direct labor costs: Job 201, $606,000, Job 202 $565,000; Job 203, $300,000, Job 204,5718,000, and Job 205, $316,000. In addition, Job 206 is in process at the end of the year and had been charged $19,000 for direct labor. No jobs were in process at the beginning of the year. The company's predetermined overhead rate is based on direct labor cost Required 1-a. Determine the predetermined overhead rate for the year 16. Determine the total overhead cost applied to each of the six jobs during the yeat. 1. Determine the over or underapplied overhead at the year-end 2. Assuming that any over- or underapplied overhead is not material, prepare the adjusting entry to allocate any over or underapplied overhead to cost of Goods Sold at the end of the year, Complete this question by entering your answers in the tabs below. Reg 1A Reg 10 Regic Reg 2 Determine the predetermined overhead rate for the year