At the beginning of the year, Infodeo established its predetermined overhead rate for movies produced during the year by using the following cost predictions: overhead costs, $2,070,000,and direct labor costs, $460,000. At year-end, the companys records show that actual overhead costs for the year are $1,996,400. Actual direct labor cost had been assigned to jobs as follows.

Movies completed and released	$	400,000
Movies still in production		46,000
Total actual direct labor cost	$	446,000

1. Determine the predetermined overhead rate for the year. 2&3. Enter the overhead costs incurred and the amounts applied to movies 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.

Req 1 Req 2 and 3 Req 4 Prepare the adjusting entry to allocate any over- or underapplied overhead to Cost of Goods Sold. View transaction list Journal entry worksheet 1 Record entry to close underapplied /overapplied overhead. Note: Enter debits before credits. Date General Journal Debit Credit Dec. 31 Record entry Clear entry View general journal Reg 1 Reg 2 and 3 Req 4 Enter the overhead costs incurred and the amounts applied during the year using the predetermined over determine whether overhead is overapplied or underapplied. Actual overhead 1,996,400 200,700 Applied overhead Overapplied overhead 1,795,700 Complete this question by entering your answers in the tabs below. Req 1 Reg 2 and 3 Req 4 Determine the predetermined overhead rate for the year. Overhead Rate Choose Numerator: 1 Choose Denominator: = Overhead Rate / Estimated direct labor costs 11 Overhead rate Estimated overhead costs $ 2,070,000 1 $ 460,000 = 450%