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Ch 02 Ex 215 Exercise 2-15 Factory overhead computed, applied, ond adjusted LO P3, P4 In Decombor 2016, Custom Mig established as predetormined overhead rate for jobs produced curing 2017 by using the following cost predictions overhead costs. $340.000, and direct materels costs. $200,000 At year-end 2017, the company's tecords show that actual overhead coses tor the yoor are $862,60 Actuali ditect material casa had heen assigned to jobs as folows lobs cosploted and sold Jobs in finished goods Inventory 83,600 Jobs in ork in process inventory 59.000 Total actual direct materials 3360,003 1. Devermine the predetermined overhend rae tor 2017 2&3, Enmer the overhead coats incured and the omounts opphed during the year usng the predetermined overhend rate and 4. Prepare the adjusting entry to ollocate oy over- or underappled ovesheed to Cost of Goods Sold Complete this question by entering your answers in the tabs below. Req 2 and 3 Re 4 Determine the predetermined overhead rate for 2017 O Type here to search