2. Calculate the overapplied or underapplied overhead for the year

3. Prepare a journal wntry to close out the Manufactorujg overhead account into cost of goods sold

gracious Ch. 3 Job Order Costing Saved The following information pertains to Trenton Glass Works for the year just ended. Budgeted direct-labor cost: 70,000 hours (practical capacity) at $16 per hour Actual direct-labor cost: 80,000 hours at $17.50 per hour Budgeted manufacturing overhead: $997,500 Actual selling and administrative expenses: 433,000 3 Actual manufacturing overhead: Depreciation Property taxes Indirect labor Supervisory salaries Utilities Insurance Rental of space Indirect material (see data below) Indirect material: Beginning inventory, January 1 Purchases during the year Ending inventory, December 31 $ 234,000 21,000 82,000 202,000 58,000 31,000 302,000 79,000 ces 48,000 94,000 63,000 Required: 1. Compute the firm's predetermined overhead rate, which is based on direct-labor hours. (Round your