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 $ 3.36, 2ee 276,00 157.ee 105.ee 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 esticated overhead costs 625,eee 77.ee 53, eee $1,800,00 At the end of 2017, records show the company incurred $1.979,000 of actual overhead costs. It completed and sold five jobs with the following direct labor costs: Job 201. $621,000: Job 202. $580.000: Job 203, S315.000. Job 204, $733.000, and Job 205. $331,000, in addition, Job 206 15 in process at the end of 2017 and had been charged $34.000 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 1-0. Determine the predetermined overhead rate for 2017 1-b. Determine the total overhead cost dopiled to each of the six jobs during 2017 1-c. Determine the over- or underappled overhead at year-end 2017 2. Assuming that any over. or underspoiled overhead is not material prepare the adjusting entry to locate any over or underappled overhead to cost of Goods Sold at the end of 2017 Complete this question by entering your answers in the tabs below. Ras la Reg 18 Req 1C Reg 2 Determine the predetermined overhead rate for 2017. Choose Numerator: Estimated overhead costs 1.800.000 Predetermined overhead rate Choose Denominator: Estimated direct labor cos 2.400.000 Predetermine overhead rate Predetermine overhead rate - Reg 1B > Complete this question by entering your answers in the tabs below. Reg 1A Req Te Reg 10 Reg 2 Determine the total overhead cost applied to each of the six jobs during 2017 202 203 Job No. Direct Labor Overhead cost applied 201 521.000 465.750 580,000 435.000 315.000 732.000 331.000 34 000 35.500 Total 3 2.814.000 1.070.500 Complete this question by entering your answers in the tabs below. Req 1A Req 18 | Req1cReq 2 Determine the over- or underapplied overhead at year-end 2017 Factory Overhead Actual overhead cost Applied overhead cost Applied overhead cost Underapplied overhead Complete this question by entering your answers in the tabs below. Req 1A Req 18 Req 10 h a 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. View transaction list View journal entry worksheet No Date General Journal Credit Debit 170.500 1 Dec 31 Cost of goods sold Factory overhead 0.500
