In December 2016. Learer Company's manager estimated next year's total direct labor cost assuming 40 persons working an average of 3,000 hours each at an average wage rate of $20 per hour. The manager also estimated the following manufacturing overhead costs for 2017 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 $ 321,200 156,000 142,000 90,000 70,000 490,000 62,000 70,500 38,00 $1,440,000 At the end of 2017, records show the company incurred $1,542.000 of actual overhead costs. It completed and sold five jobs with the following direct labor costs: Job 201, $606,000: Job 202. $565,000: Job 203. $300,000: Job 204 $718.000; and Job 205, $316,000 In addition, Job 206 is in process at the end of 2017 and had been charged $19.000 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-o. 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. 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 ov overhead to Cost of Goods Sold at the end of 2017. Complete this question by entering your answers in the tabs below. Reg 1A --Req 1B Reg 10 Req 2 Determine the predetermined overhead rate for 2017 Choose Numerator: Predetermined overhead rate 1 Choose Denominator: Predetermine overhead rate Prodotermine overhead rate Rea 1 Req 1B > Required 1-0. 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-om overhead to Cost of Goods Sold at the end of 2017. Complete this question by entering your answers in the tabs below. Reg 1A - Rea 1 Reg 10 Reg 2 Determine the total overhead cost applied to each of the six jobs during 2017 Job No. Direct Labor Overhead cost applied 201 $ 600,000 202 565,000 203 300.000 204 718.000 205 316,000 206 19,000 Total $ 2,524,000 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 un overhead to Cost of Goods Sold at the end of 2017. Complete this question by entering your answers in the tabs below. Reg 1A Reg 18 Reg 10 Reg 2 Determine the over- or underapplied overhead at year-end 2017 Factory Overhead Reg 1A Reg 18 Req 10 Reg 2 Assuming that any over or underapplied overhead is not material, prepare the adjusting entry to allocate any over- or underappli overhead to Cost of Goods Sold at the end of 2017. View transaction list Journal entry worksheet Record the entry to allocate any overapplied or underapplied overhead to Cost of Goods Sold at the end of year 2017 Note: Enter debits before credits General Journal Debit Credit Dato Dec 31
