Problem 19-4A Overhead allocation and adjustment using a predetermined overhead rate P3 P4 At the beginning of the year, Learer Company's manager estimated total direct labor cost assuming 50 persons working an average of 2,000 hours each at an average wage rate of $25 per hour. The manager also estimated the following manufacturing overhead costs for the year. Indirect labor $ 319,200 240,000 140,000 88,000 68,000 Factory supervision Rent on factory building Factory utilities Factory insurance expired Depreciation-Factory equipment Repairs expense-Factory equipment Factory supplies used Miscellaneous production costs 480,000 60,000 68,800 36,000 Total estimated overhead costs $1,500,000 At year-end, records show the company incurred $1,520,000 of actual overhead costs. It completed and sold five jobs with the following direct labor costs: Job 201, $604,000; Job 202, $563,000; Job 203, $298,000; Job 204, $716,000; and Job 205, $314,000. In addition, Job 206 is in process at the end of the year and had been charged $17,000 for direct labor. No jobs were in process at the beginning of the year. The company's pre overhead rate is based on direct labor cost. nined