In December 2016, Learer Company's manager estimated next year's total direct labor cost assuming 40 persons working an average of 2,000 hours each at an average wage rate of $30 per hour. The manager also estimated the following manufacturing overhead costs for 2017 points eBook Print 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 $ 340,200 110,000 101,000 107,000 87.000 473,000 79,000 87,800 55,000 $1,440,000 References At the end of 2017, records show the company incurred $1,599,000 of actual overhead costs. It completed and sold five jobs with the following direct labor costs: Job 201, $623.000; Job 202, $582,000; Job 203, $317.000; Job 204, $735,000; and Job 205, $333,000, In addition, Job 206 is in process at the end of 2017 and had been charged $36,000 for direct labor. No jobs were in process at the end of 2016. The company's predetermined overhead rate is based on direct labor cost. Required 1-a. Determine the predetermined overhead rate for 2017 1-b. Determine the total overhead cost applied to each of the six jobs during 2017 1-c. Determine the over- or underapplied overhead at year-end 2017 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 2017 Complete this question by entering your answers in the tabs below. overhead to cost of Goods Sold at the end of 2017. eBook Complete this question by entering your answers in the tabs below. Print References Req 1A Req 1B Req 1C Req 2 Determine the over- or underapplied overhead at year-end 2017. Factory Overhead Actual overhead cost Applied overhead cost Direct labor cost Estimated overhead cost overhead to Cost of Goods Sold at the end of 2017. eBook Complete this question by entering your answers in the tabs below. Print References Req 1A Req 18 Req 1C Req 2 Determine the over- or underapplied overhead at year-end 2017. Factory Overhead