Question: it says my answer is incomplete help :) At the beginning of the year, Custom Mfg. established its predetermined overhead rate by using the following

it says my answer is incomplete help :)  it says my answer is incomplete help :) At the beginning
of the year, Custom Mfg. established its predetermined overhead rate by using
the following cost predictions: overhead costs, $840,000, and direct materials costs, $600,000.

At the beginning of the year, Custom Mfg. established its predetermined overhead rate by using the following cost predictions: overhead costs, $840,000, and direct materials costs, $600,000. At year-end, the company's records show that actual overhead costs for the year are $689,800. Actual direct materials 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 $370,000 71,000 46,000 $487,000 1. Determine the predetermined overhead rate. 283. Enter the overhead costs incurred and the amounts applied to jobs 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 Reg 2 and 3 Req Determine the predetermined overhead rate. Overhead Rate Choose Numerator: 1 Choose Denominator Estimated overhead costs Estimated direct material costs $ 840,000/ $ 600,000 - Overhead Rate Overhead rate 140% Roe Req 2 and 3 > At the beginning of the year, Custom Mfg. established its predetermined overhead rate by using the following cost predictions: overhead costs, $840,000, and direct materials costs, $600,000. At year-end, the company's records show that actual overhead costs for the year are $689,800. Actual direct materials cost had been assigned to jobs as follows. Nobo completed and sold Jobs in finished goods inventory Jobs in work in process inventory Total actual direct materials cout $370,000 71,000 46,000 $487,000 1. Determine the predetermined overhead rate. 2&3. Enter the overhead costs incurred and the amounts applied to jobs 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 Reg 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 Actual overhead 689,800 881,800 Applied overhead Underapplied overhead 8.000 At the beginning of the year, Custom Mfg. established its predetermined overhead rate by using the following cost predictions: overhead costs, $840,000, and direct materials costs, $600,000. At year-end, the company's records show that actual overhead costs for the year are $689,800. Actual direct materials 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 materiale cont $370,000 71.000 46,000 $497,000 1. Determine the predetermined overhead rate. 2&3. Enter the overhead costs incurred and the amounts applied to jobs 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 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 View Journal entry worksheet Debit Credit No Date General Journal 8,000 1 Dec 31 Cost of goods sold Factory overhead 8,000

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