Overhead Variance (Over- or Underapplied), Closing to Cost of Goods Sold At the end of the year, Ilberg Company provided the following actual information: Overhead $456,500 Direct labor cost 607,200 Ilberg uses normal costing and applies overhead at the rate of 75% of direct labor cost. At the end of the year, Cost of Goods Sold (before adjusting for any overhead variance) was $898,000. Required: 1. Calculate the overhead variance for the year. $ 2. Dispose of the overhead variance by adjusting Cost of Goods Sold. Adjusted COGS $ Calculating the Predetermined Overhead Rate, Applying Overhead to Production At the beginning of the year, Debion Company estimated the following: Overhead $362,600 Direct labor hours 78,500 Debion uses normal costing and applies overhead on the basis of direct labor hours. For the month of March, direct labor hours were 19,625. Required: 1. Calculate the predetermined overhead rate for Debion. Round your answer to the nearest cent. per direct labor hour S 2. Calculate the overhead applied to production in March. If required, round your answer to nearest whole value