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 $1.920,000, and direct labor costs, $400,000. At year-end, the company's records show that actual overhead costs for the year are $694.500. Actual direct labor cost had been assigned to jobs as follows 3:35 Movies completed and released Movie still in production Total actual direct labor cost $100,000 47,000 $147,000 1. Determine the predetermined overhead rate for the year. 283. 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. Complete this question by entering your answers in the tabs below. Real Roland Reg 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 Actual overhead Applied werhead Enabled: Exam 02 - Chapter 14-17 C165Fathcad chine 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, $1,920,000, and direct labor costs, $400,000. At year end, the company's records show that actual overhead costs for the year are $694,500. Actual direct labor cost had been assigned to jobs as follows: Movies Pompleted and released Movies still in production Total actual direct labor cost $100,000 47.000 $147,000 1. Determine the predetermined overhead rate for the year. 283. 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. Complete this question by entering your answers in the tabs below. Reg! Reg 2 and 3 Reg 4 Determine the predetermined overhead rate for the year. 1 Choose Numerator: Estimated Overhead costs 1.920,000 Overhead Rate Choose Denominator: Estimated direct labor costs S 400.000 Overhend Rate Overhead rato 480%