Question 13 (of 13) 196 points Problem 15-4A Overhead allocation and adjustment using a predetermined overhead rate LO P3, P4 In December 2014, Learer 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 year 2015 Indirect labor Factory supervision Rent on factory building Factory utilities Factory S 319,200 240,000 140,000 88,000 68,000 480,000 60,000 68,800 36,000 Repairs expense-Factory equipment Factory supplies used $1,500,000 At the end of 2015, records show the company incurred $1,520,000 of actual overhead 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 2015 and had been charged $17,000 for direct labor. No jobs were in process at the end of 2014. The company's predetermined overhead rate is based on direct labor cost Required 1.a Determine the predetermined overhead rate for year 2015