ces 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 $100,800 of manufacturing overhead for an estimated allocation base of $84,000 direct material dollars to be used in production. The company has provided the following data for the just completed year: Purchase of raw materials $ 136,000 Direct labor cost $ 80,000 Manufacturing overhead costs: Indirect labor $ 98,300 Property taxes $ 8,300 Depreciation of equipment Maintenance $18,000 $ 13,000 $8,000 $ 33,000 Insurance Rent, building Beginning Ending Raw Materials $ 23,000 $ 13,000 Work in Process $ 47,000 $ 39,000 Finished Goods $ 69,000 $ 61,000 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 $39,000 ending balance in Work in Process includes $8,400 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 predetermined overhead rate for the year. Predetermined everhead rate % Required 2 > 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 $100,800 of manufacturing overhead for an estimated allocation base of $84,000 direct material dollars to be used in production. The company has provided the following data for the just completed year. $ 136,000 Purchase of raw materials Direct labor cost $ 80,000 Manufacturing overhead costs: Indirect labor $ 98,300 Property taxes $ 8,300 Depreciation of equipment $ 18,000 Maintenance Insurance $13,000 $8,000 $ 33,000 Rent, building Beginning Ending Raw Materials $ 23,000 $ 13,000 Mork in Process $ 47,000 $ 39,000 Finished Goods $ 69,000 $ 61,000 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 $39,000 ending balance in Work in Process includes $8,400 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 amount of underapplied or overapplied overhead for the year. overhead Beginning. $ 23,000 Ending $ 13,000 Raw Materials Work in Process $ 47,000 $ 39,000 Finished Goods $ 69,000 $ 61,000 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 $39,000 ending balance in Work in Process includes $8,400 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 Direct materials used in production Total manufacturing costs added to production Total manufacturing costs to account for Cost of goods manufactured 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 $100,800 of manufacturing overhead for an estimated allocation base of $84,000 direct material dollars to be used in production. The company has provided the following data for the just completed year: $ 136,000 Purchase of raw materials Direct labor cost $ 80,000 Manufacturing overhead costa: Indirect labor $ 98,300 Property taxes $ 8,300 Depreciation of equipment $18,000. Maintenance $ 13,000 Insurance $8,000 $ 33,000 Rent, building Beginning Ending $ 13,000 Raw Materials $ 23,000 Work in Process $ 47,000 $ 39,000 Finished Goods $ 69,000 $ 61,000 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 $39,000 ending balance in Work in Process includes $8,400 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 unadjusted cost of goods sold for the year. Do not include any underapplied or overapplied overhead in your answer. Unadusted cost of goods sold hces 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 $100,800 of manufacturing overhead for an estimated allocation base of $84,000 direct material dollars to be used in production. The company has provided the following data for the just completed year: $ 136,000 Purchase of raw materials Direct labor cost $ 80,000 Manufacturing overhead costs: Indirect labor $ 98,300 Property taxes $ 8,300 $ 18,000 Depreciation of equipment Maintenance $ 13,000 Insurance Rent, building $ 8,000 $ 33,000 Beginning Ending Raw Materials $ 23,000 $ 13,000 Work in Process $ 47,000 $ 39,000 Finished Goods $ 69,000 $ 61,000 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 $39,000 ending balance in Work in Process includes $8,400 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 Assume that the $39,000 ending balance in Work in Process includes $8,400 of direct materials. Given this assumption, supply the information missing below: Direct materials 8,400 Direct labor Manufacturing overhead Work in process inventory $ 39,000