In December 2016, Learer Company's manager estimated next year's total direct labor cost assuming 35 persons working an average of 2,000 hours each at an average wage rate of $40 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 329,200 354,990 156,666 98,660 8,800 756,800 0,000 78,800 46,000 $1,960,900 raptory sugelies uctary eqvipeent Miscellaneous production costs Total estimated overhead costs At the end of 2017, records show the company incurred $1,821,000 of actual overhead costs. It completed and sold five jobs with the following direct labor costs: Job 201, $614,000, Job 202, $573,000 Job 203, $308,000, Job 204, $726,000, and Job 205, $324.000 In addition, Job 206 is in process at the end of 2017 and had been charged $27000 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 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 underappi overhead to Cost of Goods Sold at the end of 2017 Complete this question by entering your answers in the tabs below Req 1A Req 18 Req 10 Req 2 Determine the over- or underapplied overhead at year-end 2017 Req 1B Req 2 >