Vernon Company and Walton Company both apply overhead to the Work in Process Inventory account using direct labor hours. The following information is available for both companies for the year. Vernon Company Walton Company Actual manufacturing overhead $151,400 $230,050 Actual direct labor hours 23,000 23,000 Underapplied overhead Overapplied overhead 15,000 $ 28,000 Required a. Compute the predetermined overhead rate for each company. b. Using T-accounts, record the entry to close the overapplied or underapplied overhead at the end of the accounting period for each company, assuming the amounts are immaterial. Complete this muestion by enterinnere in the the