Exercise 19-15 Factory overhead computed, applied, and adjusted LO P3, P4 In December 201, Custom Mig. esablishedits predeermined overhead rate for jobs produced during 2017 by using the following cosl predictions overhead costs $750o0c, and direct malerials cosls $500,000. A year-end 2017 Lhe company's records show thal actual overhead costs for the year ae 5746,000 Actual drect matera cost had been assignedto lobs as follows 03:40:4T Jobs cuapleted and 8uld Joba in finiahed gooda imrentory Jobs in vork in process inventory Total actual rect nat erials cast 370, 000 5, 000 T. 000 $492, 00D . Determine the predetermined overhead rate for 207 2&3. Enter the overhead costs incurred and the amounts applied during the year using the predetermined overhead rate and determin e wh eth er overhead i s overappli eo or underappli ec 4. Frepare the adjusting entry to allocate any over- or underappl ed overheadto Cost of Goods Sold Complete this question by entering yuur answers in the tabs heluw Rea 1 Req 2 and 3 Req 4 Determine the predetermined overhead rate for 2017 Overhead Rate Choose Denominator hoose Numerator Overhead Ra Overead rate