At the beginning of the year, Tseng Company estimated the following:

Overhead                        $834,000
Direct labor hours             60,000

Tseng uses normal costing and applies overhead on the basis of direct labor hours. For the month of January, direct labor hours were 5,150. By the end of the year, Tseng showed the following actual amounts:

Overhead                       $805,000
Direct labor hours            58,000

Assume that unadjusted Cost of Goods Sold for Tseng was $2,840,000.

Required:
1. Calculate the predetermined overhead rate for Tseng.
2. Calculate the overhead applied to production in January.
3. Calculate the total applied overhead for the year. Was overhead over- or underapplied? By how much?
4. Calculate adjusted Cost of Goods Sold after adjusting for the overhead variance.