Exercise 2-15 Factory overhead computed, applied, and adjusted LO P3, P4 In December 2016. Custom Mfg. established its predetermined overhead rate for jobe produced during 2017 by using the following cost predictions overhead costs, $750,000, and direct materiale costs. $625,000. At year-end 2017, the company's records show that actual overhead costs for the year are $830,000. Actual direct material cost had been designed to jobs as follows Jobe completed and cold $513,750 Jobs in finished goods 102,750 Inventory Jabe in work in process 68,500 Inventory Total actual direct materiale 5685,000 COAT 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. Hai 2 and 3 Determine the predetermined overhead rate for 2017. Chooco Numerator. Qvaeed Rate Chooce Denominator Overhead Rate Ovomosdate Red 2 and > 6685.000 CORE 1. Determine the predetermined overhead rate for 2017. 283. Enter the overhead coats 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. Reg 1 Req 2 and 3 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 Ped 1 De 2 and 3 Prepare the adjusting entry to allocate any over- or underapplied overhead to cost of Goods Sold View trac t Journal entry worksheet Record entry to allocate underapplied /overapplied overhead. Nota: Enter debit b ore credits Dete Dobit Credit Dec 31 Decendantry Vw groumal