Selected data for the consulting department of Kingman Consulting Inc., follow: Estimated consulting overhead cost for the year Estimated direct labor cost for the year (@ $9/hr.) Actual consulting overhead cost for May Actual direct labor cost for May (2,400 hours) $630,000 324,000 29,000 22,000 Assuming that direct labor hours is the basis for applying consulting overhead, a. Calculate the predetermined overhead rate. $ 17.5 per direct labor hour b. Prepare a journal entry that applies consulting overhead for May. General Journal Description Debit Credit Work in process inventory 13,680 X 0 Consulting overhead 0 42,680 x c. By what amount is consulting overhead over-or under-applied in May? $ 13,680 X over-applied