Check my work 12 Exercise 15-15 Factory overhead computed, applied, and adjusted LO P3, P4 12 At the beginning of the year. Custom Mfg established its predetermined overhead rate by using the following cost predictions overhead costs, $520,000, and direct materials costs. $200,000. At year-end, the company's records show that actual overhead costs for the year are $1.401,800. Actual direct materials cost had been assigned to jobs as follows BOOK Het Jobs completed and sold Jobs in finished goods inventory Jobs in work in process inventory Total actual direct materials cost $400.000 34,00 52.000 $536,000 1. Determine the predetermined overhead rate 283. Enter the overhead costs incurred and the amounts applied to jobs during the year using the predetermined overhead rate and 4. Prepare the adjusting entry to allocate any over. or underapplied overhead to Cost of Goods Sold determine whether overhead is overapplied or underapplied Complete this question by entering your answers in the tabs below. 1. Determine the predetermined overhead rate. 2&3. Enter the overhead costs incurred and the amounts applied to jobs during the year using the predetermine 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 1 Req 2 and 3 Reg 4 Determine the predetermined overhead rate. Overhead Rate Choose Numerator: Estimated overhead costs 1 Choose Denominator: Overhead Rate 1. Estimated direct material costs Overhead rate Req 2 and 3 Complete this question by entering your answers in the tabs below. Reg 1 Req 2 and 3 Req 4 Enter the overhead costs incurred and the amounts applied during the year using the prec determine whether overhead is overapplied or underapplied. Factory Overhead 0 Journal entry worksheet 1 Record entry to allocate underapplied /overapplied overhead. Note: Enter debits before credits. w Date General Journal Dec 31 Debit Credit