saved Help Save & Exit Submit In December 2016. Custom Mig established its predetermined overhead rate for jobs produced during 2017 by using the following cost predictions overhead costs, 420,000, and direct materials costs, $300,000 At year-end 2017, the company's records show that actual overhead costs for the year are $734,900. Actual direct material 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 $390,000 53,000 45,000 5518,000 1. Determine the predetermined overhead rate for 2017 283. 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 Complete this Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 and 3 Req 4 Determine the predetermined overhead rate for 2017 Overhead Rate Choose Denominator Choose Numerator: Overhead Rate Overhead rato Req 2 and 3 > Complete this question by entering your answers in the tabs below. 241 Req1 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 Rea 1 Reg 2 and 3 Reg 4 2 Prepare the adjusting entry to allocate arv ver- or underapplied overhead to Cost of Goods Sold View ramacool 0024 Journal entry worksheet > Record entry to allocate undervolled leverapplied overhead. Dr. Gm Dib Cient 0 Dec 31 cer C View all