Name 1) Johansen C orporation uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead to jobs. The Corporation has provided the following estimated costs for the next year S 6,000 is $ 20,000 Direct materials Direct labor Rent on factory building H Sales salaries S 15,000 s 25,000 ,u s 8,000 5 S 12,000 Depreciation on factory equipment O Pbs eper t o Jameson estimates that 20,000 direct labor-hours will be worked during the year. The predetermined overhcad rate per Indirect labor s 15,000 50u hour will be: 2.50 2) Just Me Corporation uses a predetemined overhcad rate base on machine-hours that it recalculates at the beginning of each year. The company has provided the following data for the most recent year. Estimated total manufacturing OH at the beginning of the year Estimated machine hours at the beginning of the year Estimated direct labor hours at the beginning of the year Actual Total manufacturing OH costs incurred during the year Actual machine hours used Actual direct labor hours used $534,000 30,000 25,000 $487,000 27,000 Calculate the predetermined overhead rate per machine-hour At the end of the year, how much overhead was applied? Calculated the OVER applied or UNDER applied overhead ar . . amount for the period? is cleared, what is the effect for the period on each: Finished Goods Before the over/under applied overhead Inventory, Cost of Sales and Net Income 1)17,3