In December 2016, Learer Company's manager estimated next year's total direct labor cost assuming 45 persons working an average of 2,000 hours each at an average wage rate of $25 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 $325,200 233,000 146,000 94,000 74,000 520,000 66,000 74,800 42,000 $1,575,000 At the end of 2017, records show the company incurred $1,820,000 of actual overhead costs. It completed and sold five jobs with the following direct labor costs: Job 201, $610,000; Job 202, $569,000; Job 203, $304,000; Job 204, $722,000; and Job 205, $320,000 In addition, Job 206 is in process at the end of 2017 and had been charged $23,000 for direct labor. No jobs were in proess 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