In December $2016,$ Custom Mfg$.$ established its predetermined overhead rate for jobs produced during $2017$ by using the following

cost predictions: overhead costs, $$750,000,$ and direct materials costs, $$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 assigned to jobs as follows.

Determine the predetermined overhead rate for $2017.$

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.

Prepare the adjusting entry to allocate any over$-$ or underapplied overhead to Cost of Goods Sold.

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Req $1$

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.