Enter the overhead costs incurred and the amounts applied during the year using the predeter determine whether overhead is overapplied or underapplied. Journal entry worksheet Record entry to allocate underapplied /overapplied overhead. Note: Enter debits before credits. At the beginning of the year, Custom Mfg. established its predetermined overhead rate by using the follt overhead costs, $1,920,000, and direct materials costs, $600,000. At year-end, the company's records s costs for the year are $1,584,200. Actual direct materials cost had been assigned to jobs as follows. 1. Determine the predetermined overhead rate. 2\&3. Enter the overhead costs incurred and the amounts applied to jobs during the year using the pred 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. Determine the predetermined overhead rate