Ch 15 Homework 0 Saved Help 'IO points 1. Determine the predetermined overhead rate using estimated direct labor costs. 2. Enter the actual overhead costs incurred andthe amount of overhead cost applied to movies during the year using the At the beginning of the yEar. Mirmax SEt its predetermined overhead rate for movies produced during the year by using the following estimates: overhead costs. $1,720.000. and direct labor costs. $430,000. At year-end, the company's actual overhead costs for the year are $1 5109500. Skipped predetermined overhead rate. Determine whether overhead is over or underapplied (and the amount) for the year. 3. Prepare the entry to close any over or underapplied overhead to Cost of Goods Sold. Elk Complete this question lav entering your answers in the tabs below. e 00 g Required 1 Required 2 Required 3 6 Determine the predetermined overhead rate using estimated direct labor costs. Overhead rate Rafe re nces Required 2 >