In December 2016, Custom Mig. established its predetermined overhead rate for jobs produced during 2017 by using the follo cost predictions: overhead costs, $170,000, and direct materials costs, $100,000. At year-end 2017, the company's records sho actual overhead costs for the year are $835,200. Actual direct material 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 $360,000 77,000 49,000 $486,000 1. Determine the predetermined overhead rate for 2017 283. 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. Reg1 Req bands Req4 Determine the predetermined overhead rate for 2017 Choose Numerator Othead Rate Choose Denominator Overhead Rate Overhead rate Reg 2 and > In December 2016, Custom Mfg. established its predetermined overhead rate for jobs produced during 2017 by using the following cost predictions: overhead costs, $170,000, and direct materials costs, $100,000. At year-end 2017, the company's records show that actual overhead costs for the year are $835,200. Actual direct material 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 $360,800 77,000 49,000 5486,000 1. Determine the predetermined overhead rate for 2017 263. 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. Regi Regalond Reg4 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 1 Reg4 > Jobs completed and sold Jobs in finished goods inventory Jobs in work in process inventory Total actual direct materials cost $360,000 77,000 49,000 $486,000 1. Determine the predetermined overhead rate for 2017, 283. 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. Regi Reg 2 and 3 Reg 4 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 allocate underapplied /overapplied overhead, terbore Crede Dec 31
