5 Cadbury Company uses a job order costing system. Manufacturing overhead is applied on the basis of direct labor cost. Total manufacturing overhead was estimated to be $120,960 for the year; direct labor was estimated to total $151,200. 00:37:15 Raw Materials Inventory Work in Process Inventory Finished Goods Inventory (1/1) (12/31) $14,500 $ 9,300 $21,000 $ 22,700 $ 41,400 $ 30,300 The following transactions have occurred during the year. Raw materials purchases Direct materials used Direct labor Indirect materials used Indirect labor $100,000 $ 94,300 $127,000 $ 10,900 $ 16,600 Factory equipment depreciation $ 27,100 Factory rent Factory utilities Other factory costs $ 20,000 $ 8,200 $ 7,200 (a) Calculate the predetermined overhead rate. Predetermined Overhead Rate (b) Calculate cost of goods manufactured. Cost of Goods Manufactured %