Hodge, Honer, and Robinson Co. established its predetermined overhead rate at the begining of the year by using the following assumptions: overhead costs, $1,450,000, and direct materials costs, $500,000. At the end of the year, Hodge, Honer, and Robinson Co's records show that actual overhead costs for the year are $1,580,300. Actual direct materials cost had been assigned to jobs as follows. Jobs completed and sold Jobs in finished goods inventory Jobs in work in process inventory Total actual direct materials cost $410,000 1. Determine the predetermined overhead rate. 74,000 58,000 $542,000 2&3. Enter the overhead costs incurred and the amounts applied to jobs during the year using the predetermined overhead rate and 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. Req 1 Req 2 and 3 Reg 4 Determine the predetermined overhead rate.. Overhead Rate Total actual direct materials cost 1. Determine the predetermined overhead rate. 2&3. Enter the overhead costs incurred and the amounts applied to jobs during the year using the predetermined overhead rate and 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. Req 1 Req 2 and 3 Req 4 Determine the predetermined overhead rate. Choose Numerator: Overhead Rate Choose Denominator: Overhead Rate Overhead rate Req 2 and 3> Total actual direct materials cost Saved Help Save & Exi 1. Determine the predetermined overhead rate. 2&3. Enter the overhead costs incurred and the amounts applied to jobs during the year using the predetermined overhead rate and 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. Req 1 Req 2 and 3 Req 41 Enter the overhead costs incurred and the amounts applied during the year using the predetermined overhead rate and determine whether overhead is overapplied or underapplied. Factory Overhead Prepare the adjusting entry to allocate any over- or underapplied overhead to Cost of Goods Sold. View transaction list Journal entry worksheet < 1 Record entry to allocate underapplied/overapplied overhead. Note: Enter debits before credits. Date Dec 31 General Journal Debit Credit >