Problem 5 (Textbook Reference: P2-6)-Compute predetermined overhead rate and transfer under or-overapplied overhead to cost of goods sold Speedy Delivery, Inc, transports computer equipment for various computer manufacturers. Speedy applies overhead to jobs using a predetermined overhead rate based on truck miles. Estimated data for 2014 are: Estimated truck miles Estimated overhead for hauling operations (equivalent to manufacturing overhead Required: a. Compute the predetemined overhead rate per mile. b. Assume that in 2014, actual manufacturing overheadfohag operations amounted to S15 million, and 24 million 20 million $12 million truck miles were driven. Compute the amount of underapplied or overapplied manufacturing overhead for 2014. c. Prepare the joumal entry to transfer underapplied or overapplied overhead to Cost of Goods Sold Problem 5Answer Shest a. Predetermined Overhead RateEstimated Overhead Costs Estimated Overhead Driver Predetermined Overhead Rate- per truck mile b. Mamfacturing Overhe ad Actual Overhead Appied Overhead Debi Balance Underappled Add to ending COGS Credi Balance Overappled Subract from ending COGS c. Journal Entry Debit Cre dit