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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

$

14,550

$

22,550

Work in process

$

27,550

$

9550

Finished Goods

$

62,550

$

77,550

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 33,550 machine-hours and incur $271,755 in manufacturing overhead cost. The following transactions were recorded for the year:

Raw materials were purchased, $315,550.

Raw materials were requisitioned for use in production, $307,550 ($280,450 direct and $27,100 indirect).

The following employee costs were incurred: direct labor, $377,550; indirect labor, $96,550; and administrative salaries, $172,550.

Selling costs, $147,550.

Factory utility costs, $10,550.

Depreciation for the year was $160,000 of which $144,000 is related to factory operations and $16,000 is related to selling, general, and administrative activities.

Manufacturing overhead was applied to jobs. The actual level of activity for the year was 34,110 machine-hours.

Sales for the year totaled $1,285,000.

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)

$

Direct Materials used in Production

$

Direct Labor

$377,550

Total Manufacturing Costs

$

Cost of Goods Manufactured

$

Adjusted Cost of Goods Sold

$

Total Selling and Admin Exp

$336,100

Operating Income

$

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