The following information is available for the pension plan of Swifty Company for the year 2020. Actual and expected return on plan assets $15,600
Benefits paid to retirees 41,300
Contributions (funding) 90,700
Interest/discount rate 10%
Prior service cost amortization 8,700
Projected benefit obligation, January 1, 2020 534,000
Service cost 57,200

Required:
a. Compute pension expense for the year 2020.
b. Prepare the journal entries to record pension expense and the employer's contribution to the pension plan in 2020.

Harris fabrics computes its predetermined overhead rate annually on the basis of direct labor-hours. at the beginning of the year, it estimated that 34,000 direct labor-hours would be required for the period’s estimated level of production. the company also estimated $599,000 of fixed manufacturing overhead expenses for the coming period and variable manufacturing overhead of $3.00 per direct labor-hour. harris's actual manufacturing overhead for the year was $768,234 and its actual total direct labor was 34,500 hours.required: compute the company's predetermined overhead rate for the year. (round your answer to 2 decimal places.)