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 Movies still in production 53,000 Total actual direct labor $553.000o 500,000 released cost Exercise 19-15 Part 4 4. Prepare the adjusting entry to allocate any over- or underapplied overhead to Cost of Goods Sold Answer is complete but not entirely correct. Date General Journal Debit Credit Dec. 31 Factory overhead 1,426,700 Cost of goods sold 1,426,700