E$4\mathrm{.}26$ Overapplied or underapplied overhead: manufacturer

Lo $4\mathrm{.}4$

The following information relates to Amazing Creations Pty Ltd for the year Just endect:

$4\mathrm{.}6$

$\backslash$table$[[$Budgeted direct labour cost,$75000$ hours a $$16$ per hour$],[$Actusl direct lisbour cost,$80000$ hours a $$17\mathrm{.}50$ per hour$],[$Budgeted monufacturing overhead,$$997500],[$Actual manutacturing overhead:$],[$Deprecistion$,$$$231000],[$Property toxes,$21000],[$Indivect labour,$82000],[$Supervisory salaties,$200000],[$Electricity$,59000],[$Insurance$,30000],[$Foctory rent,$300000],[$Indivect material $($see data belowi$),79000],[$Indirect moteriat$],[$Begirning irventory, $1$ January,$$48000],[$Purchases$,94000],[$Ending imventory. $31$ December,$63000]]$

Required

Calculate the firm's predetermined overhead rate, which was based on direct labour hours.

Calculate the overapplied or underapplied overhead for the year.

Prepare a journal entry to close the manufacturing overhead account to cost of goods sold.

What caused the overapplied or underapplied overhead?