At the beginning of the most recent period, the company estimated its total direct labor cost to be $57,700 and its total manufacturing overhead cost to be $92,320. 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. I Anten. Raw Materials Inventory Beginning 13500 Balance 94600 ? Ending Balance 29,200 ? Work in Process Inventory Beginning 29,000 Balance Direct 68700 Materials Direct 40500 Labor Applied ? Overhead Ending 19300 Balance ? Finished Goods Inventory Beginning 41100 Balance Cost of ? Goods Completed Ending 49000 Balance Cost of Goods Sold Unadjusted ? Cost of Goods Sold Adjusted ? Cost of Goods Sold Sales Revenue 320000 ? Applied Overhead Manufacturing Overhead Indirect 10200 Materials of Goods Sold Indirect 14200 labor Factory 12400 Depreciation Factory rent 7000 Factory 1200 Utilities Other 8100 factory costs Actual 53100 overhead English (United States) th security updates, fixes, and improvements, choose Check for Updat Selling, General and Administrative Expenses Admin 27200 Salaries Office 18800 Depreciation Advertising 13100 Ending 59100 Balance