Question: please help me with number 2&3 Check my work Exercise 2-15 Factory overhead computed, applied, and adjusted LO P3, P4 In December 2016, Custom Mfg.

 please help me with number 2&3 Check my work Exercise 2-15
Factory overhead computed, applied, and adjusted LO P3, P4 In December 2016,
please help me with number 2&3

Check my work Exercise 2-15 Factory overhead computed, applied, and adjusted LO P3, P4 In December 2016, Custom Mfg. established its predetermined overhead rate for jobs produced during 2017 by using the following cost preditions: overhead costs, $440,000, and direct materials costs, $200,000. At year-end 2017, the company's records show that actual overhead costs for the year are $1,166,800. Actual direct material cost had been assigned to jobs as follows. nts Jobs completed and sold obs in finished goods inventory Jobs in work in process inventory Total actual direct materials cost 39e,8e 82,800 54,800 $526,890 eBook Hint Ask Print 1. Determine the predetermined overhead rate for 2017 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. 4. Prepare the adjusting entry to allocate any over-or underapplied overhead to Cost of Goods Sold efere ences Complete this question by entering your answers in the tabs below. Req 1 Req 2 and 3 Req 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 283. Enter the overhead costs incurre determine whether overhead is overapplied or underapplied. 4. Prepare the adjusting entry to allocate any over- or underapplied overhead to Cost of Goods Sold d and the amounts applied during the year using the predetermined overhead rate Complete this question by entering your answers in the tabs below. Req 1 Req 2 and 3 Req 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 ces KReq 1 Req4 >

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

\f