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Exercise 2-15 Factory overhead computed, applied, and adjusted LO P3, P4 (The following information applies to the questions displayed below.) In December 2014, Infodeo established its predetermined overhead rate for movies produced during year 2015 by using the following cost predictions: overhead costs, $1,680,000, and direct labor costs, $480,000. At year-end 2015, the company's records show that actual overhead costs for the year are $1,652,000. Actual direct labor cost had been assigned to jobs as follows. 425,000 Movies completed and released Movies still in production 50,000 Total actual direct labor cost $475,000 Exercise 2-15 Part 2&3 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. Factory Overhead