CHAPTER 2 Managerial Accounting Concepts/Job Costing Speedy Delivery, Inc., transports computer equipment for various computer manufacturers Speedy applies overhead to jobs using a predetermined overhead rate based on truck miles. Estimated data for 2014 are: Estimated truck miles Estimated overhead for hauling operations 20 million (equivalent to manufacturing overhead) $12 million Compute the predetermined overhead rate per mile. Assume that in 2014, actual manufacturing overhead for hauling operations amounted to $15 million, and 24 million truck miles were driven. Compute the amount of underapplied or overapplied manufacturing overhead for 2014. Prepare the journal entry to transfer underapplied or overapplied overhead to Cost of Goods Sold. a. b. c