I am working on the problem and finding trouble to understand. Can you please help.
At the beginning of the year, Infodeo established its predetermined overhead rate for movies produced during the year by using the following cost predictions: overhead costs, $1,892,000,and direct labor costs, $440,000. At year-end, the company's records show that actual overhead costs for the year are $2,776,300. Actual direct labor cost had been assigned to Jobs as follows. Movies Completed and released $686,933 Movies still in production 48,888 Total actual direct labor- cost $545399 1. Determine the predetermined overhead rate for the year. 25.3. Enter the overhead costs incurred and the amounts. applied to movies 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 tells below. Prepare the adjusting entry to allocate any over? or underapplied overhead to Cost of Goods Sold. View transaction list Journal entry worksheet Record entry to close underapplied loverapplied overhead. Nate: Enter debits before credits. ( Req 2 and 3 At the beginning of the year, Infodeo established its predetermined overhead rate for movies produced during the year by using the following cost predictions: overhead costs, $1,892,000,and direct labor costs, $440,000, At year-end, the company's records show that actual overhead costs for the year are $2,776,300, Actual direct labor cost had been assigned toiobs as follows, Movies Completed and released $655,338 Movies still in production 48,333 Total actual direct labor cost $545999 1. Determine the predetermined overhead rate for the year. 283. Enter the overhead costs incurred and the amounts applied to movies 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 ofGoods Sold, Complele lis question by entering your answers in the tabs below. Reql Reqzand3 Req4 Determine ue predetermined overhead rate for ue year. Overhead rate Rquand3 ) At the beginning of the year, lnfodeo established its predetermined overhead rate for movies produced during the year by using the following cost predictions: overhead costs, $1,892,000,and direct labor costs, $440,000, At yeareend, the company's records show that actual overhead costs for the year are $2,776,300, Actual direct labor cost had been a55igned to jobs as follows Movies completed and released $663,888 Movies still in pmduttion 45,383 Total actual direct labor cost $543,333 1. Determine the predetermined overhead rate for the year, 2&3. Enter the overhead costs incurred and the amounts applied to movies 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 underappiied overhead to Cost of Goods Sold, Complete this qution by entering your answers in the tabs below. Enter the overhead costs curred and the amounts applied during the year using the predetermined overhead rate and determine whether overhead is ovelapplied or underapplied. ( Req1 Req 4 )
