Savallas Company is highly automated and uses computers to control manufacturing operations. The company uses a job-order costing system and applies manufacturing overhead cost to products on the basis of computer-hours. The following estimates were used in preparing the predetermined overhead rate at the beginning of the year:

Computer-hours	84,000
Fixed manufacturing overhead cost	$	1,273,000
Variable manufacturing overhead per computer-hour	$	3.70

During the year, a severe economic recession resulted in cutting back production and a buildup of inventory in the companys warehouse. The companys cost records revealed the following actual cost and operating data for the year:

Computer-hours	50,000
Manufacturing overhead cost	$	1,018,000
Inventories at year-end:
Raw materials	$	410,000
Work in process	$	200,000
Finished goods	$	1,030,000
Cost of goods sold	$	2,720,000

Required:

1.	Compute the companys predetermined overhead rate for the year. (Round your answer to 2 decimal places. Omit the "$" sign in your response.)

Predetermined overhead rate

$ per hour

2.	Compute the underapplied or overapplied overhead for the year.(Round your intermediate calculations to 2 decimal places and final answer to the nearest dollar amount. Input the amount as positive value. Omit the "$" sign in your response.)

(Click to select)UnderappliedOverapplied overhead cost

$

3.	Assume the company closes any underapplied or overapplied overhead directly to cost of goods sold. Prepare the appropriate entry.(Round your intermediate calculations to 2 decimal places and final answers to the nearest dollar amount. Omit the "$" sign in your response.)

General Journal	Debit	Credit
(Click to select)Finished goodsDepreciation expenseManufacturing overheadWork in processAccounts payableCost of goods soldSalaries expenseRaw materials
(Click to select)Accounts payableSalaries expenseRaw materialsFinished goodsWork in processCost of goods soldManufacturing overheadDepreciation expense

4.

Assume that the company allocates any underapplied or overapplied overhead to work in process, finished goods, and cost of goods sold on the basis of the amount of overhead applied during the year that remains in each account at the end of the year. These amounts are $75,400 for work in process, $245,050 for finished goods, and $622,050 for cost of goods sold. Prepare the journal entry to show the allocation. (Round your intermediate calculations and percentage values to 2 decimal places and final answers to the nearest dollar amount. Omit the "$" sign in your response.)

General Journal	Debit	Credit
(Click to select)Finished goodsManufacturing overheadRaw materialsAccounts payableWork in processDepreciation expenseCost of goods soldSalaries expense
(Click to select)Salaries expenseRaw materialsFinished goodsCost of goods soldDepreciation expenseWork in processManufacturing overheadAccounts payable
(Click to select)Salaries expenseCost of goods soldRaw materialsDepreciation expenseWork in processAccounts payableManufacturing overheadFinished goods
(Click to select)Manufacturing overheadAccounts payableCost of goods soldDepreciation expenseFinished goodsRaw materialsWork in processSalaries expense
I only need help with part 4. Please.