2 Gitano Products operates a job-order costing system and applies overhead cost to jobs on the basis of direct materials used in production (not on the basis of raw materials purchased), its predetermined overhead rate was based on a cost formula that estimated $115,700 of manufacturing overhead for an estimated allocation base of $89.000 direct material dollars to be used in production. The company has provided the following data for the just completed year ts Purchase of raw saterials Direct labor cost Manufacturing overhead costs: Indirect labor- Property taxes Depreciation of equipment Maintenance $ 136,000 85,eee $ 124,70e 8,6ee $ 16,000 $ 11,000 7,900 31,00e Insurance ernt Rent, building Beginning S 26,000 S 49,00 S 73,000 59,0ue aferances Ending Raw Materials Hork in Process Finished Goods 12,0ve- $ 4e,00e Requlred 1. Compute the predetermined overhead rate for the year 2 Compute the amount of underappled or overapplied overhead for the year 3. Prepare a schedule of cost of goods manufactured for the year. Assume all raw materials are used in production as direct materials 4. Compute the unadjusted cost of goods sold for the year. Do not include any underapplied or overapplied overhead in your answer 5. Assume that the $40.000 ending belance in Work in Process includes $8.000 of direct materials. Given this assumption, supply the information missing below Complete this question by entering your answers in the tabs below. Required ! Required 2 Required 3 Required 4 Raquired 5 Compute the predetermined overhead rate for the year Predetermined overhead rate 2 of 4