Daget Corporation uses direct labor-hours in Its predetermined overhead rate. At the beginning of the year, the total estimated manufacturing overhead was $364,680. At the end of the year, actual direct labor-hours for the year were 24,000 hours, manufacturing overhead for the year was overapplied by $8,60O, and the actual manufacturing overhead was $360,760. The predetermined overhead rate for the year must have been closest to: Crich Corporation uses direct labor-hours In Its predetermined overhead rate. At the beginning of the year, the estimated direct. labor-hours were 21,900 hours and the total estimated manufacturing overhead was $521,220 At the end of the year, actual direct labor-hours for the year were 21,750 hours and the actual manufacturing overhead for the year was $521,220 Overhead at the end of the year was In the Excel, or spreadsheet, approach to recording financial transactions, the revenues and expenses on the income statement can be determined by summing each column True or False True False In the Excel, or spreadsheet, approach to recording financial trasoctions, raw materlal purchases on account are recorded as Increases in the Raw Materlals Inventory column and decreases tn the Accounts Payable column. True or Falso True False