Data for Kane Company for 2019:

Budgeted annual manufacturing overhead cost = $300,000 Estimated Direct Labor hours = 150,000 Actual annual manufacturing overhead cost = $310,000 Actual Direct Labor hours worked = 152,000 Budgeted direct material cost = $400,000 Budgeted direct labor cost = $500,000 a. Calculate the predetermined overhead rate. b. Calculate the annual applied manufacturing overhead. Was manufacturing overhead over or under applied and by how much? c. Prepare the Journal Entry to close the over or under applied overhead to cost of goods sold.