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Problem 3-14 Schedule of Cost of Goods Manufactured; Overhead Analysis [LO3-3, LO3-4) 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 $123,200 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. $ $ 134.000 34,000 $ Purchase of raw materials Direct Labor cost Manufacturing overhead costs: Indirect Labor Property taxes Depreciation of equipment Maintenance Insurance Rent, building 122,700 8,500 18,000 14,000 7,90 38,000 $ Raw Materials Work in Process Inished Goods Beginning Ending $ 23,000 $ 10,000 $ 49,000 $38.000 $ 68,000 $56.000 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 538.000 ending balance in Work in Process includes $8.900 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 Compute the predetermined overhead rate for the production (not on the basis of raw materials purchased). Its predetermined overhead rate was based on a cost formula that estimated $123.200 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. $ $ 134,000 84,809 Purchase of raw materials Direct labor cost Manufacturing overhead costs: Indirect Labor Property taxes Depreciation of equipment Maintenance Insurance Rent, building 122.789 8,500 18.000 14, 7.989 38,00 $ Raw Materials Work in Process Finished Goods Beginning $ 23,000 $ $ 49, $ 68,000 $ Ending 10,000 38. 56,000 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 taw 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 $8.900 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 3 Required 4 Required s Compute the amount of underapplied or overapplied overhead for the year Required 1 Required 3 > Finished Goods $ 56.089 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 $8.900 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 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 Ramatas used in production Total manufacturing costs Cost of goods manufactured HOLLI LUULUJLUPIDUULUUN. We company has provided the following data for the just completed year $ $ 134, 84,000 $ Purchase of raw materials Direct labor cost Manufacturing overhead costs: Indirect labor Property taxes Depreciation of equipment Maintenance Insurance Rent, building 122,789 8,500 18,000 14,000 7.900 38,000 $ Raw Materials Work in Process Finished Goods Beginning $ 23,000 $ 3 49,000 $ $ 68,000 $ Ending 10,000 38,000 56.000 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 $8.900 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 3 Required 4 Required 5 Compute the answer. adjusted cost of goods sold for the year. Do not include any underapplied or overapplied overhead in your production (not on the basis of raw materials purchased). Its predetermined overhead rate was based on a cost formula that estimated $123,200 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 $ $ 134.000 34.cee Purchase of raw materials Direct labor cost Manufacturing overhead costs: Indirect labor Property taxes Depreciation of equipment Maintenance 122,700 8,500 $ $ $ Rent, building 14,000 7.ee 38,000 Raw Materials Work in Process Finished Goods Beginning $ 23,000 $ 49,000 $ 68,00 $ $ $ Ending 10,000 38,000 56,000 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 allraw 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 538.000 ending balance in Work in Process includes $8.900 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 3 Required 4 Required Assume that the 38.000 ending balance in Work in Process includes $6.900 of direct materials. Given this assumption supply the information missing below M aluring overhead We processory