In December 2016, Custom Mfg. established Its predetermined overhead rate for jobs produced during 2017 by using the following cost predictions overhead costs, $450,000, and direct materlals costs, $300,000. At year-end 2017, the company's records show that actual overhead costs for the year are $801,000. Actual direct materlal cost had been assigned to jobs as follows $400,e0e Jobs completed and sold Jobs in finished goods inventory Jobs in work in process inventory 78.000 se,e0e $528,000 Total actual direct materials cost 1. Determine the predetermined overhead rate for 2017 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 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 for 2017. Overhead Rate Overhead Rate Choose Numerator: Choose Denominator: Estimated direct material costs Estimated overhead costs Overhead rate 300.000 150% 450.000 Req 2 and 3 Complete this question by entering your answers in the tabs below. Reg 2 and 3 Req 1 Reg 4 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 Aoplied overhead Direct labor cost Appied overhead Actual overhead Underapplied overhead Reg 4 Reg 1 Complete this question by entering your answers in the tabs below. Req 1 Req 2 and 3 Reg 4 Prepare the adjusting entry to allocate any over- or underapplied overhead to Cost of Goods Sold. View transaction list View journal entry worksheet Credit Debit General Journal No Date Cost of goods sold Dec 31 1