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Exercise 19-16 Factory overhead computed, applied, and adjusted At the beginning of the year, Infodeo established its predetermined overhead rate for movies produced dring the year by using the following cost predictions: overhead costs, $1,680,000, and direct labor costs, 480,000. At year-end, 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. P3 P4 $425,000 Movies completed and released Movies still in production... 50,000 $475,000 Total actual direct labor cost