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Baab Corporation is a manufacturing firm that uses job-order costing. The company's inventory balances were as follows at the beginning and end of the year:

Baab Corporation is a manufacturing firm that uses job-order costing. The company's inventory balances were as follows at the beginning and end of the year:

Beginning Balance

Ending Balance

Raw materials

$

14,950

$

22,950

Work in process

$

27,950

$

9950

Finished Goods

$

62,950

$

77,950

The company applies overhead to jobs using a predetermined overhead rate based on machine-hours. At the beginning of the year, the company estimated that it would work 33,950 machine-hours and incur $302,155 in manufacturing overhead cost. The following transactions were recorded for the year:

Raw materials were purchased, $315,950.

Raw materials were requisitioned for use in production, $307,950 ($280,050 direct and $27,900 indirect).

The following employee costs were incurred: direct labor, $377,950; indirect labor, $96,950; and administrative salaries, $172,950.

Selling costs, $147,950.

Factory utility costs, $10,950.

Depreciation for the year was $184,000 of which $173,000 is related to factory operations and $11,000 is related to selling, general, and administrative activities.

Manufacturing overhead was applied to jobs. The actual level of activity for the year was 34,190 machine-hours.

Sales for the year totaled $1,325,000.

Required:

Do not enter any commas (except for the pre-determined OH rate) and round to the nearest dollar

Based on the data presented above, complete the following Table

Pre-Determined OH Rate (round to 2 decimal places)

$Blank 1

Direct Materials used in Production

$Blank 2

Direct Labor

$377,950

Total Manufacturing Costs

$Blank 3

Cost of Goods Manufactured

$Blank 4

Adjusted Cost of Goods Sold

$Blank 5

Total Selling and Admin Exp

$331,900

Operating Income

$Blank 6

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