Sniped Corporation bases it's predetermined overhead rate on the the estimated labor hours for the upcoming year. At the beginning of the most recently completed year, the company estimated the labor-hours for the upcoming year at 78,000 labor hours. The estimated variable manufacturing overhead was $9.99 per labor-hour and the estimated total fixed manufacturing overhead was 985,920. The actual manufacturing overhead for the year was $1,812,700 and the companies direct labor workers, worked a total of 80,000 labor hours.

1. What is the companies predetermined overhead rate
2. Also what is the manufacturing overhead applied
3. Is the manufacturing overhead over or under applied and if so by how much?
4. whats the journal entry to close the over or underapplied overhead to Cost of Goods sold?