1 At the beginning of the year, Custom Mig established its predetermined overhead rate by using the following cost predictions overhead costs $1240,000, and direct materials costs, $400,000 At year-end, the company's records show that actual overhead costs for the year are $1632,900 Actual direct materials cost had been assigned to jobs as follows points Jobs completed and sold Bobs in finished goods Inventory Jobs in work in process Laventory Total actual direct materials cost $390,000 78,000 56,000 $524,000 ebook Hant 1. Determine the predetermined overhead rate 283. Enter the overhead costs incurred and the amounts applied to jobs during the year using the predetermined overhead rate and determine whether overhead is overapplied or underappiled. 4. Prepare the adjusting entry to allocate any over. or underapplied overhead to cost of Goods Sold Complete this question by entering your answers in the tabs below. Paint Reg Reg 2 and 3 Reg References Determine the predetermined overhead rate. Overhead Rate Choose Denominator Choose Numerator: Overhead Alate Overhead rata Rey 2 and 3 >