At the beginning of the year, Custom Mg established its predetermined overhead rate by using the following cost predictions: overhead costs, $800,000, and direct materials costs, $400,000 At year-end, the company's records show that actual overhead costs for the year are $1070.200. Actual direct materials cost had been assigned to jobs as follows. Jobs completed and sola Jobs in finished goods inventory Jobs In work in process inventory Total actual direct materials cost $400,000 79.000 52,00 $531,000 1. Determine the predetermined overhead rates 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 underapplied 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. Reg1 Req 2 and Reg4 Enter the overhead costs incurred and the amounts applied during the year using the predetermined overhead rate and determine whether overhead is overapplied or underapplied. Factory Overhoud Actual overhead (Applied overhead Underapplied overhead At the beginning of the year, Custom Mfg established its predetermined overhead rate by using the following cost predictions overhead costs $800,000, and direct materials costs, $400.000 At year-end the company's records show that actual overhead costs for the year are $1070,200 Actual direct materials cost had been assigned to jobs as follows Jobs completed and sold Jobs in finished goods inventory Jobs in work in process Inventory Total actual direct materials cost $400,000 79.000 52.000 $531,00 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 underapplied 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. ces Reg 1 Reg 2 and 3 Reg 4 Prepare the adjusting entry to allocate any over or underapplied overhead to cost of Goods Sold View transaction list View journal entry worksheet NO Generalloumal Date Dec 31 Debit Credit 1 Cost of goods sold Factory overhead