In December 2016, Learer Company's manager estimated next year's total direct labor cost assuming 40 persons working an average of 3,000 hours each at an average wage rate of $20 per hour. The manager also estimated the following manufacturing overhead costs for 2017 Indirect labor Factory supervision Rent on factory building Factory utilities Factory insurance expired Depreciation-Factory equipment Repairs expense-Factory equipment Factory supplies used Miscellaneous production costs Total estimated overhead costs $ 336,200 276,000 157,000 105,000 85,000 625,000 77,000 85,800 53,000 $1,800,000 At the end of 2017, records show the company incurred $1,979,000 of actual overhead costs. It completed and sold five jobs with the following direct labor costs: Job 201, $621,000; Job 202, $580,000; Job 203, $315,000; Job 204, $733,000; and Job 205, $331,000. In addition, Job 206 is in process at the end of 2017 and had been charged $34,000 for direct labor. No jobs were in process at the end of 2016. The company's predetermined overhead rate is based on direct labor cost. Required 1-a. Determine the predetermined overhead rate for 2017. 1-b. Determine the total overhead cost applied to each of the six jobs during 2017 1-c. Determine the over- or underapplied overhead at year-end 2017 2. Assuming that any over- or underapplied overhead is not material, prepare the adjusting entry to allocate any over- or underapplied overhead to Cost of Goods Sold at the end of 2017. * Answer is not complete. Complete this question by entering your answers in the tabs below. Reg 1A Reg 1B Reg 10 Reg 2 Determine the over- or underapplied overhead at year-end 2017. Factory Overhead 1,979,000 1,960,500 Actual overhead cost Applied overhead cost 18,500