- Ch 4) 6 Saved Help Save & Exit Submit At the beginning of the year, Learer Company's manager estimated total direct labor cost to be $2,504,000. The manager also estimated the following overhead costs for the year. Indirect labor Rent on factory building Factory utilities Depreciation-Factory equipment Repairs expense-Factory equipment Indirect materials Total estimated overhead costs $ 559,600 140,400 156,400 480,400 60,400 105,200 $ 1,502,400 For the year, the company incurred $1,521,200 of actual overhead costs. It completed and sold five jobs with the following direct labor costs: Job 201, $604,400; Job 202, $563,400; Job 203. $298,400, Job 204, $716,400, and Job 205, $314,400. In addition, Job 206 is in process at the end of the year and had been charged $17.400 for direct labor. No jobs were in process at the beginning of the year. The company's predetermined overhead rate is based on a percent of direct labor cost. Required 1-a. Determine the predetermined overhead rate for the year. 1-b. Determine the overhead applied to each of the six jobs during the year, 1-c. Determine the over- or underapplied overhead at the year-end. 2. Prepare the entry to close any over-or underapplied overhead to Cost of Goods Sold at year- end. Complete this question by entering your answers in the tabs below. Reg 1A Reg 1B Reg 1C Reg 2 48000 25 1 c G Sourchar tumuni 8 ompleted and sola tive jobs with the following direct labor costs: Job 201, $604,400; Job 202, $563,400; Job 203, $298.400; Job 204, $716,400; and Job 205, $314,400. In addition, Job 206 is in process at the end of the year and had been charged $17,400 for direct labor. No jobs were in process at the beginning of the year. The company's predetermined overhead rate is based on a percent of direct labor cost. 20 points Required 1-a. Determine the predetermined overhead rate for the year. 1-b. Determine the overhead applied to each of the six jobs during the year. 1-c. Determine the over- or underapplied overhead at the year-end. 2. Prepare the entry to close any over- or underapplied overhead to Cost of Goods Sold at year- end. 04:09:31 Complete this question by entering your answers in the tabs below. Req 1A Req 18 Req 1C Reg 2 Determine the predetermined overhead rate for the year. Numerator: Predetermined overhead rate Denominator: VO Predetermined overhead rato Predetermined overhead rate 1 ROQ 1A Req 1B > be He LE u MC Graw Hill LULU rhead at the year-end. 2. Prepare the entry to close any over- or underapplied overhead to Cost end. Complete this question by entering your answers in the tabs below. 16 Req 1A Req 1B Req 1C Req 2 Determine the overhead applied to each of the six jobs during the year. Job Number 201 Overhead applied 202 203 Direct Labor $ 604.400 563,400 298,400 716,400 314,400 17,400 $ 2,514,400 204 205 206 Total mende 46.908 OCT 6 o o 25 ExternaLorowser (Ch 1 - Ch 4) Saved Help Save & Exit Submit 1-a. Determine the predetermined overhead rate for the year. 1-b. Determine the overhead applied to each of the six Jobs during the year. 1-c. Determine the over- or underapplied overhead at the year-end. 2. Prepare the entry to close any over- or underapplied overhead to Cost of Goods Sold at year- end. Complete this question by entering your answers in the tabs below. 29.09 Req 1A Reg 13 Reg 10 Reg 2 Determine the over- or underapplied overhead at the year-end. Factory Overhead TE 46, DOO 25 6 SC G Search or type URL R Saved Help Save & Exit Sub Reg 1A Reg 1B Req 1C Req 2 Prepare the entry to close any over- or underapplied overhead to Cost of Goods Sold at year-end. View transaction list Journal entry worksheet Record the entry to allocate any overapplied or underapplied overhead to Cost of Goods Sold at the end of the year. Note: Enter debits before credits General Journal Date December 31 Debit Credit Record entry Clear entry View general Journal 46.90 DGE 5 25 - Ch 4) 6 Saved Help Save & Exit Submit At the beginning of the year, Learer Company's manager estimated total direct labor cost to be $2,504,000. The manager also estimated the following overhead costs for the year. Indirect labor Rent on factory building Factory utilities Depreciation-Factory equipment Repairs expense-Factory equipment Indirect materials Total estimated overhead costs $ 559,600 140,400 156,400 480,400 60,400 105,200 $ 1,502,400 For the year, the company incurred $1,521,200 of actual overhead costs. It completed and sold five jobs with the following direct labor costs: Job 201, $604,400; Job 202, $563,400; Job 203. $298,400, Job 204, $716,400, and Job 205, $314,400. In addition, Job 206 is in process at the end of the year and had been charged $17.400 for direct labor. No jobs were in process at the beginning of the year. The company's predetermined overhead rate is based on a percent of direct labor cost. Required 1-a. Determine the predetermined overhead rate for the year. 1-b. Determine the overhead applied to each of the six jobs during the year, 1-c. Determine the over- or underapplied overhead at the year-end. 2. Prepare the entry to close any over-or underapplied overhead to Cost of Goods Sold at year- end. Complete this question by entering your answers in the tabs below. Reg 1A Reg 1B Reg 1C Reg 2 48000 25 1 c G Sourchar tumuni 8 ompleted and sola tive jobs with the following direct labor costs: Job 201, $604,400; Job 202, $563,400; Job 203, $298.400; Job 204, $716,400; and Job 205, $314,400. In addition, Job 206 is in process at the end of the year and had been charged $17,400 for direct labor. No jobs were in process at the beginning of the year. The company's predetermined overhead rate is based on a percent of direct labor cost. 20 points Required 1-a. Determine the predetermined overhead rate for the year. 1-b. Determine the overhead applied to each of the six jobs during the year. 1-c. Determine the over- or underapplied overhead at the year-end. 2. Prepare the entry to close any over- or underapplied overhead to Cost of Goods Sold at year- end. 04:09:31 Complete this question by entering your answers in the tabs below. Req 1A Req 18 Req 1C Reg 2 Determine the predetermined overhead rate for the year. Numerator: Predetermined overhead rate Denominator: VO Predetermined overhead rato Predetermined overhead rate 1 ROQ 1A Req 1B > be He LE u MC Graw Hill LULU rhead at the year-end. 2. Prepare the entry to close any over- or underapplied overhead to Cost end. Complete this question by entering your answers in the tabs below. 16 Req 1A Req 1B Req 1C Req 2 Determine the overhead applied to each of the six jobs during the year. Job Number 201 Overhead applied 202 203 Direct Labor $ 604.400 563,400 298,400 716,400 314,400 17,400 $ 2,514,400 204 205 206 Total mende 46.908 OCT 6 o o 25 ExternaLorowser (Ch 1 - Ch 4) Saved Help Save & Exit Submit 1-a. Determine the predetermined overhead rate for the year. 1-b. Determine the overhead applied to each of the six Jobs during the year. 1-c. Determine the over- or underapplied overhead at the year-end. 2. Prepare the entry to close any over- or underapplied overhead to Cost of Goods Sold at year- end. Complete this question by entering your answers in the tabs below. 29.09 Req 1A Reg 13 Reg 10 Reg 2 Determine the over- or underapplied overhead at the year-end. Factory Overhead TE 46, DOO 25 6 SC G Search or type URL R Saved Help Save & Exit Sub Reg 1A Reg 1B Req 1C Req 2 Prepare the entry to close any over- or underapplied overhead to Cost of Goods Sold at year-end. View transaction list Journal entry worksheet Record the entry to allocate any overapplied or underapplied overhead to Cost of Goods Sold at the end of the year. Note: Enter debits before credits General Journal Date December 31 Debit Credit Record entry Clear entry View general Journal 46.90 DGE 5 25