EXTRA CREDIT EXAM 2 223 A company set its predetermined overhead rate at the beginning of the year using the following estimates: overhead costs, $2,288,000, and direct labor costs, $440,000. Actual costs for the year are $2,300,900 for overhead and $440,000 for direct labor Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Skipped Determine the predetermined overhead rate using estimated direct labor costs. Numerator + Overhead Rate Denominator Overhead Rate Overhead rate Required 2 > Help Save & Exit Subm 2 A company set its predetermined overhead rate at the beginning of the year using the following estimates: overhead costs. $2,288,000, and direct labor costs, $440,000. Actual costs for the year are $2,300,900 for overhead and $440,000 for direct labor. Complete this question by entering your answers in the tabs below. 024943 Required 1 Required 2 Skipped Required 3 Required 2 Compute the amount of under- or overapplied overhead for the year. Factory Overhead 0 Mc Required 1 Required 21 Required 3 02 Prepare the entry to close under- or overapplied overhead to Cost of Goods Sold. View transaction list Journal entry worksheet Close under- or overapplied overhead to Cost of Goods Sold. Note: Enter debits before credits. Date December 31 General Journal Debit Credit Record entry Clear entry View general journal