ment 1 Saved Help At the beginning of the year, Learer Company's manager estimated total direct labor cost to be $2,519,000. The manager also estimated the following overhead costs for the year Indirect labor Rent on factory building. Factory utilities Depreciation-Factory equipment Repairs expense-Factory equipment Indirect materials $ 561,100 141,900 157,900 Total estimated overhead costs 481,900 61,900 106,700 $ 1,511,400 For the year, the company incurred $1,525,700 of actual overhead costs. It completed and sold five jobs with the following direct lobor costs: Job 201, $605,900, Job 202, $564,900; Job 203, $299,900, Job 204, $717,900, and Job 205, $315,900. In addition, Job 206 is in process at the end of the year and had been charged $18.900 for direct labor. No jobs were in process at the beginning of the year The company's predetermined overhead rate is based on a percent of direct labor cost Required 1-a. Determine the predetermined overhead rate for the year. 1-b. Determine the overhead applied to each of the six jobs during the year. 1-c. Determine the over- or underapplied overhead at the year-end 2. Prepare the entry to close any over- or underapplied overhead to Cost of Goods Sold at year-end. Complete this question by entering your answers in the tabs below. Req 1A Req 18 Req 1C Req 21 Determine the predetermined overhead rate for the year. Numerator: Predetermined overhead rate Denominator: Predetermined overhead rate Predetermined overhead rate 1 Complete this question by entering your answers in the tabs below. Req 1A Req 18 Req IC Req 21 Determine the overhead applied to each of the six jobs during the year. Job Number Direct Labor Overhead applied 201 $ 605,900 202 564,900 203 299,900 204 717,900 205 315,900 206 18,900 Total $ 2,523,400 Req 1A Req 18 Req 1C Req 2 Determine the over- or underapplied overhead at the year-end. Factory Overhead Journal entry worksheet 1 Record the entry to allocate any overapplied or underapplied overhead to Cost of Goods Sold at the end of the year. Note: Enter debits before credits. Date December 31 O General Journal Debit Credit View general journal Record entry Clear entry