In December 2014, Infodeo established its predetermined overhead rate for movies produced during year 2015 by using the following cost predictions: overhead costs, $1,728,000,and direct labor costs, $480,000. At year-end 2015, the company's records show that actual overhead costs for the year are $1,979,700. Actual direct labor cost had been assigned to jobs as follows. Movies completed and 500,000 Movies still in production 53,000 Total actual direct labor $553,000 released cost Exercise 19-15 Part 2&3 2&3.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. Answer is complete but not entirely correct. Factory Overhead 1,979,700 480,000 Actual overhead Applied overhead Overapplied overhead ,499,700