Sheridan Decorating uses a job-order costing system to collect the costs of its interior decorating business. Each client's consultation is treated as a separate job. Overhead is applied to each job based on the number of decorator hours incurred. Listed below are data for the current year: Estimated overhead costs $899,800 Actual overhead costs $912,500 Estimated decorator hours 40,900 Actual decorator hours 41,220 The company uses Operating Overhead in place of Manufacturing Overhead, and Service Contracts in Process in place of Work in Process Inventory. (a) Your Answer Correct Answer Your answer is correct. Question 12 of 12 < Predetermined overhead rate 22 per decorator hour List of Accounts 1.67/5 Assistance Used Attempts: 1 of 2 used (b) Prepare the entry to apply the overhead for the year. (List all debat entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit List of Accounts