The folsowing inforaation pertaina to Trentoe chans Works for the year just eosed. Pudgesed artctibsor cont 75,000 hourt i (aractical cacacty a $16 per hour Actual dentitabor cont so,000 hours at 317.50 per hour Budgeted manafacturng oreheat 5097,509 Actual sothg and adminatrable exenses 435 , 000 Actua manutacturng orenest. Reguired: 1. Conpute the furm is fredetermined overticad rate, whick an based od darect Labse boun 2. Calculate the vienpried of underapelied oiertarad for the year The following information pertainis to Trenton Glass Works for the year just ended. Buspeed direct tabor cost 75,000 hours (bractical capacity) at $16 per bour Actual diectlabor cost $0,000 hours at $17.50 per hour Budgeted manutacturing cvertheac $997,500 Actual seling and admindrative expenses: 435,000 1. Compate the farm's predetermined overtead rate, which is based en direct-labor houn. 2. Calculate the overapplied or underapplied overtiead for the year 3. Prepare a joumal eutry to close out the Manufactaring Overbead account into Cost of Goods Sold