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Dobson Manufacturing Company uses a job order cost system with manufacturing overhead applied to products on the basis of direct labor dollars. At the beginning of the most recent period, the company estimated its total direct labor cost to be $50,600 and its total manufacturing overhead cost to be $96,140. Several incomplete general ledger accounts show the transactions that occurred during the most recent accounting period which is given in second requirement. Required: 1. Calculate the predetermined overhead rate. 2. Fill in the missing values in the T-accounts. 3. Compute over- or underapplied overhead. 4. Prepare a statement of cost of goods manufactured and sold including the adjustment for over- or underapplied overhead. 5. Prepare a brief income statement for the company. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Calculate the predetermined overhead rate. Predetermined Overhead Rate % of Direct Labor Cost Required 1 Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Fill in the missing values in the T-accounts. Raw Materials Inventory 13,600 Beginning Balance Purchases Beginning Balance Direct Materials Work in Process Inventory 29,500 69,200 93,000 Ending Balance 29,100 Direct Labor S 41,500 Applied Overhead Ending Balance 19,100 Cost of Goods Sold Finished Goods Inventory 41,600 Beginning Balance Unadjusted Cost of Goods Sold Adjusted Cost of Goods Sold Cost of Goods Completed Ending Balance 48,500 Sales Revenue 314,000 Manufacturing Overhead 8,300 13,400 Applied Overhead 12,000 Indirect Materials Indirect Labor Factory Depreciation Factory Rent Factory Utilities Other Factory Costs Actual Overhead 5,500 1,900 8,200 49,300 Selling, General, and Administrative Expenses Adm. Salaries 26,800 Office Depreciation 19,900 Advertising 13,300 Ending Balance 60,000 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Compute over- or underapplied overhead. Manufacturing Overhead Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Prepare a statement of cost of goods manufactured and sold including the adjustment for over- or underapplied overhead. DOBSON MANUFACTURING COMPANY Cost of Goods Manufactured and Sold Report Direct Materials used in Production Total Current Manufacturing Costs S 0 Total Work in Process S 0 Cost of Goods Manufactured Cost of Goods Available for Sale S 0 Unadjusted Cost of Goods Sold Adjusted Cost of Goods Sold Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Prepare a brief income statement for the company. DOBSON MANUFACTURING COMPANY Income Statement Net Income from Operations
