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Check my work 6 At the beginning of the year, Custom Mig, established its predetermined overhead rate by using the following cost predictions: overhead costs, $210,000, and direct materials costs, $100,000. At year-end, the company's records show that actual overhead costs for the year are $1,040,700. Actual direct materials cost had been assigned to jobs as follows. 1.42 points Jobs completed and sold Jobs in finished goods inventory Jobs in work in process inventory Total actual direct materials cost $370,000 73,000 48,000 $491,000 Back Hint Print References 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. 6 Complete this question by entering your answers in the tabs below. Reg 1 1.42 points Reg 2 and 3 Reg 4 Determine the predetermined overhead rate. eBook Overhead Rate 1 Choose Denominator: Hint Choose Numerator: Overhead Rate Overhead rate 0 Print 1 References R Req 2 and 3 > Check my work 6 Complete this question by entering your answers in the tabs below. Reg 1 142 points Reg 2 and 3 Reg4 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 eBook Factory Overhead Print References 0 Check my work 6 Journal entry worksheet 1.42 points Record entry to allocate underapplied /overapplied overhead. eBook Note: Enter debits before credits Hint General Journal Debit Credit Print Date Dec 31 References Record entry Clear entry View general journal

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