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please help with all parts! At the beginning of the year, Learer Company's manager estimated total direct labor cost to be $2,516,000. The manager also
please help with all parts!
At the beginning of the year, Learer Company's manager estimated total direct labor cost to be $2,516,000. The manager also estimated the following overhead costs for the wan. costs: Job 201, $605,600; Job 202, $564,600; Job 203, $299,600; Job 204, $717,600; and Job 205, $315,600; In addition, Job 206 is The company's predetermined overhead rate is based on a percent of direct labor. No jobs were in process at the beginning of the year. 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. Determine the predetermined overhead rate for the year, For the year, the company incurred $1,524,800 of actual overhead costs. It completed and sold five jobs with the followin costs: Job 201, \$605,600; Job 202, \$564,600; Job 203, \$299,600; Job 204, \$717,600; and Job 205, $315,600. In additic in process at the end of the year and had been charged $18,600 for direct labor. No jobs were in process at the beginnin 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. Determine the predetermined overhead rate for the year. For the year, the company incurred $1,524,800 of actual overhead costs. It completed and sold five jobs with the costs: Job 201, \$605,600; Job 202, \$564,600; Job 203, \$299,600; Job 204, \$717,600; and Job 205, \$315,600. in process at the end of the year and had been charged $18,600 for direct labor. No jobs were in process at the 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 Soid at year-end. Complete this question by entering your answers in the tabs below. Determine the overhead applied to each of the six jobs during the year. For the year, the company incurred $1,524,800 of actual overhead costs. It completed and sold five jobs w costs: Job 201, \$605,600; Job 202, \$564,600; Job 203, \$299,600; Job 204, \$717,600; and Job 205, \$315 in process at the end of the year and had been charged $18,600 for direct labor. No jobs were in process 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. Determine the over-or underapplied overhead at the year-end. Prepare the entry to close any over- or underapplied overhead to Cost of Goods Sold at year-end. Journal entry worksheet 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 eredits Step by Step Solution
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