View Policies Current Attempt in Progress Milsaps Company produces sportsmen's digital scales. In preparing the current budget, Milsaps controller estimates a total of $281.000 in direct materials cost. $202.000 indirect labor cost, and $264,620 in manufacturing overhead costs. Since much of the production process requires skilled workers to assemble the scales, direct labor cost is used as the overhead application base. At the end of the period, Milsaps reported actual results as follows: direct materials cost of $288.000, direct labor cost of $224.000, and manufacturing overhead cost $289,020 Your answer has been saved. See score details after the due date What is Milas' gredetermined overhead rate for the year! Milias predetermined overhead rate How much manufacturing overhead did Milsaps apply during the year? Manufacturing overhead $ Save for Later What is the journal entry to close overhead if the amount is considered to be insignificant? (Enter debit entries first followed by credit entrie indented when the amount is entered. Do not indent manually.) Account and explanation Debit Credit Save for Later