At the beginning of the year. lnfodeo established its predetermined overhead rate for movies produced during the year by using the following cost predictions: overhead costs. $1,880,000,and direct labor costs. $470,000. At year-end. the company's records show that actual overhead costs for the year are $2,153,300. Actual direct labor cost had been assigned tojobs as follows. Movies completed and released 5 500 , U 00 Movies still in production 4 1 .- U 00 Total actual direct labor coat 3 54 1 1 U 0'3 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. Complete thle queeon by entering your answers In the tabs below. Req 1 Req 2 and 3 Req 4 Determine the predetermined overhead rate for the year. Overhead Rate Choose Numerator: Choose Denominator: = Overhead Rate Overhead rate Req 1 Req 2 and 3 Req 4 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. Reg 1 Req 2 and 3 Reg 4 Prepare the adjusting entry to allocate any over- or underapplied overhead to Cost of Goods Sold. View transaction list Journal entry worksheet Record entry to close underapplied /overapplied overhead. Note: Enter debits before credits. Date General Journal Debit Credit Dec. 31Record entry Clear entry View general journal