4 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 $105,600 of manufacturing overhead for an estimated allocation base of $88.000 direct material dollars to be used in production. The company has provided the following data for the just completed year 3.74 points 5.133.000 4,000 Book Purchase of raw materials Direct labor cont Manufacturing overhead coats Indirect labor Property taxes Depreciation of equipment Maintenance Insurance Rent, building $4,500 0.700 15.000 0 12.000 9.200 19.000 Raw Materiala Work in Process Finished Goode Beginning $ 25,000 13,000 $44,000 $ 20.000 $49.000 559,000 Required: 1. Compute the predetermined overhead rate for the year 2. Compute the amount of underapplied or overapplied overhead for the year 3. Prepare a schedule of cost of goods manufactured for the year. Assume 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 answet 5. Assume that the $38.000 ending balance 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 Heures Mere Hund Compute the predetermined whead rate for the an Pored 1205 Required 2 ) 4 Gltano 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 $105,600 of manufacturing overhead for an estimated allocation base of $88.000 direct material dollars to be used in praduction. The company has provided the following data for the just completed year: 374 points FA133,000 3.600 Purchase of raw materiale Diceat labor cost Manufacturing overhead costat Indirect labor Property taxes Depreciation of equipment Maintenance LASCO Hent, building 94.500 8,700 15.000 12.900 1,200 139.000 R HAterinis Work in Process Finished Goods Tegning toiding 1.25,000 $13,000 $ 44.000 6 38.000 $ 69,000 $59.000 Required: 1. Compute the predetermined overhead rate for the year 2. Compute the amount of underapplied 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 $38.000 ending balance 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. Requires 2 Regard Required 4 Required Required 5 Compute the amount of underapplied or overapplied overhead for the year (Required 1 Required) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Prepare a schedule of cost of goods manufactured for the year. Assume all raw materials are used in production as direct materials, Gitano Products Schedule of Cost of Goods Manufactured Direct materials: Total raw materials available Direct materials used in production Total manufacturing costs added to production Total manufacturing costs to account for 0 Cost of goods manufactured 1. Compute the predetermined overhead rate for the year 2. Compute the amount of underapplied 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 $38,000 ending balance 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 1 Required 2 Required Required 4 Required Assume that the $35,000 ending balance in Work in Process Includes $8,000 or direct materials. Given this assumption, supply the information missing below 8.000 Direct materials Direct labor Manufacturing overhand Work in process inventory 5 38.000