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Problem 19-4A Overhead allocation and adjustment using a predetermined overhead rate LO P3, P4 2016, Learer Company's manager estimated next year's total direct labor cost

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Problem 19-4A Overhead allocation and adjustment using a predetermined overhead rate LO P3, P4 2016, Learer Company's manager estimated next year's total direct labor cost assuming 25 persons working an average of 3,000 hours each costs for 2017 at an average wage rate of $30 per hour. The manager also estimated the following manufacturing overhead 339,200 Factory supervision Rent on Eactory baitding Factory utilities Factory insarance expired 109,000 486,000 Tactory suppiies ueed Total estimated overhead costs 1,575,000 records show the company incurred $1.863000 of actual overhead costs It completed and soid five jobs with the sbor costs: Job 201, $624,000: Job 202, $583,000, Job 203, $318.000, Job 204, $736,000; and Job 205, $334,000. is in process at the end of 2017 and had been charged $37,000 for direct labor No jobs were in process at the In addition, Job 206 end of 2016. The company's predetermined overhead rate is based on direct labor cost 1-a. Determine the predetermined overhead rate for 2017 1-b. Determine the total overhead cost applied to each of the six jobs during 2017 1-c. Determine the over- or 2. Assuming that any over- or underapplied underapplied overhead at year end 2017 overhead is not material, prepare the adjusting entry to alocate any over- or underapplied overhead to Cost of Goods Sold at the end of 2017 ena or zUTD ine company's preaeterminea overneaa rate is pasea on airect iapor cost. 1-a. Determine the predetermined overhead rate for 2017 1-b. Determine the total overhead cost applied to each of the six jobs during 2017 1-. Determine the over- or underapplied overhead at year-end 2017 2. Assuming that any over-or underapplied overhead is not material, prepare the adjusting entry to allocate any over- or undera overhead to Cost of Goods Sold at the end of 2017 Complete this question by entering your answers in the tabs below. Req 1A Req 18 Req 1C Req 2 Determine the predetermined overhead rate for 2017. rate I Choose D Req18 )

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