The predetermined overhead rate for Forsythe, Inc., is based on estimated direct labor costs of $400,000 and estimated factory overhead of $500,000. Actual costs incurred were: Direct Materials $250,000 Direct Labor $410,000 Overhead $500,000 Required: (a) Calculate the predetermined overhead rate AND calculate the overhead applied during the year. (b) (1) Determine the amount of over- or underapplied overhead AND indicate whether it was over or underapplied. (b) (2) Prepare the journal entry to eliminate the over- or underapplied overhead assuming that it is not material in amount. You MUST show your work to receive any credit at all