I don't understand how to work this problem completely.

Aggregator Industries does cement pouring jobs for homes and businesses. Below is information related to its Overhead application:

Estimated Overhead Cost$ 240,000Estimated Direct Labor Hours29,000Actual Direct Labor Hours31,587Estimated Machine Hours74,000Actual Machine Hours68,541Depreciation of Mixing Equipment$ 48,000Depreciation of Pouring Equipment$ 52,000Fuel for Cement Truck$ 3,900Supervisor Salaries$ 104,000Advertising Expense$ 2,850Rent Expense for Cement Yard$ 23,000

Required:

1. Determine the Predetermined Overhead Rate if the Cost Driver is Direct Labor Hours.
2. Calculate the Over/Underapplied Overhead.
3. Create a journal entry to dispose of the Over/Underapplied Overhead.
4. Repeat steps 1-3, but with Machine Hours as the Cost Driver.

Aggregator Industries does cement pouring jobs for homes and businesses. Below is information related to its Overhead application:Estimated Overhead Cost$240,000Estimated Direct Labor Hours29,000Actual Direct Labor Hours31,587Estimated Machine Hours74,000Actual Machine Hours68,541Depreciation of Mixing Equipment$48,000Depreciation of Pouring Equipment$52,000Fuel for Cement Truck$3,900Supervisor Salaries$104,000Advertising Expense$2,850Rent Expense for Cement Yard$23,000Required:1. Determine the Predetermined Overhead Rate if the Cost Driver is Direct Labor Hours.Predermined Overhead Rate (Direct Labor Hours)$8.282. Calculate the Over/Underapplied Overhead.Use this T-Account to calculate Over/Underapplied Overhead.Manufacturing OverheadDebitCredit??AmountTypeOver/Underapplied Overhead?Overapplied3. Create a journal entry to dispose of the Over/Underapplied Overhead.DateAccountDebitCredit6/30/2022Cost of Goods Sold535,649Manufacturing Overhead535,6494. Repeat steps 1-3, but with Machine Hours as the Cost Driver.Predermined Overhead Rate (Machine Hours)$3.24Use this T-Account to calculate Over/Underapplied Overhead.Manufacturing OverheadDebitCredit??AmountTypeOver/Underapplied Overhead??DateAccountDebitCredit6/30/2022