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ASAP!! I need help with this question please. Gitano Products operates a job-order costing system and opplies overhead cost to jobs on the basis of
ASAP!! I need help with this question please.
Gitano Products operates a job-order costing system and opplies overhead cost to jobs on the basis of direct materlals used in procuction (not on the basis of raw materials purchased). its predetermined overhead rate was based on a cost formula that estimated $117,000 of manufacturing overhead for an estimated alocation base of $90,000 direct material doliars to be used in production. The company has provided the following data for the just completed year: 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 nformation missing below: Complete this question by entering your answers in the tabs below. Compute the predetermined overhead rate for the year. 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 rew materials purchased) its predetermined overhead rate was bosed on a cost formula thot estimated $117,000 of manufacturing overhead for an estimated asiocation base of $90.000 direct material dollars to be used in production. The company has provided the following data for the just completed year: 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 manufectured for the yeat. 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. Compute the amount of underapplied or overapplied overhead for the year, Hequitid devet mitemer hil your ardect. astimerion supoly the ints matiatiming beiow. Camplete this question by entering your answers in the tabs belaw. are inted in podaction as drect materials. Gitano Products operates a job-order costing system and applies overhead cost to jobs on the basis of cirect materials used in production (not on the basis of raw materlais purchased). Its predetermined overtiead rate was based on a cost formula that estimated $117.000 of manufacturing overhead for an estimated a ocation base of 590.000 direct material doliars to be used in production. The company has provided the following data for the just completed year: Required: 1. Compute the predetermined overhead rate for the yeat, 2. Compute the amount ofunderapplied or overapplied overhead for the year. 3. Prepare a schedule of chst of goods manufactured for the yeat. Assume all row materials are used in production as direct materials. 4. Compute the unadjusted cost of goods sold for the year. Do not include any underopplied 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. Compute the unadjusted cost of goods sold for the year. Do not include any underapplied or overapplied overhead in your answer. Gitand Products operates a job-order costing system and applies overhed cost to jobs on the basis of direct materiais used in prodiction (not on the basis of raw meterials purchasedi. Its predetermined overheod rate was based on a cost formula that estimated 517000 of manuterturing overieded for an estimated atocation base of 590.000 direct material doflars to be used in production. The company has prosided the folowing data for the just completed year Pequired: 1. Compute the predetermined overhend rate for the yeat, 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 yeat. Do not inciuce any underapplied or overapplied overtiead in your answer. 5. Ascume that the $38,000 ending bolance in Work in Process includes $8,900 of direct materiais. Given this assumption, supply the informabion missing below: Complete this question by entering your answers in the tabs below. Assume that the $38,000 ending balance in Work in Process indudes $8,900 of direct materiais. Given this assumption, supply the information missing below Step by Step Solution
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