for Smith Company employees is $$17$ per hour.

By the end of the year, $18,100$ direct labor hours had actually been worked, and Smith incurred the following actual overhead costs for the year:

$\backslash$table$[[$Equipment lease,$$6,800],[$Depreciation on building,$19,340],[$Indirect labor,$90,400],[$Utilities$,14,560],[$Other overhead,$41,400]]$

Required:

Calculate the overhead rate for the year.

Calculate the total cost of Job K$456.$

Prepare the Dec. $31$ journal entries to record actual overhead and to apply overhead to production for the year.

Is overhead overapplied or underapplied? By how much?

Assuming that the normal cost of goods sold for the year is $$635,600,$ what is the adjusted cost of goods sold?