Vulcan Molding produces molded rubber components. At the start of the year, the company estimated that it would incur $4,000,000 of direct labor cost and $9,000,000 of manufacturing overhead. Overhead is allocated to production on the basis of direct labor cost. Actual direct materials used during the year were $5,750,000, actual direct labor cost was $4,500,000, and actual overhead was $11,000,000. 

Required 

a. Calculate the overhead rate for the current year. 

b. Prepare the journal entry to record use of direct material. 

c. Prepare the journal entry to record direct labor. 

d. Prepare the journal entry to record manufacturing overhead applied to production. 

e. Prepare the journal entry to close the balance in manufacturing overhead to cost of goods sold.