Check my work 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 $127,400 of manufacturing overhead for an estimated allocation base of $91,000 direct material dollars to be used in production. The company has provided the following data for the just completed year: s 133,000 $87,000 Direct labor cost Manufacturing overhead costs: s 123,900 $ 8,700 19,000 s 12,000 $ 8,200 $38,000 Indirect labor Property taxes Depreciation of equipment Rent, building 27,000 13,000 s 45,000 39,000 $ 68,00o 60,000 Raw Materials Finished Goods Required 1. Compute the predetermined overhead rate for the year. 2. Compute the amount of uniderapplied or overapplied overhead for the year 3. Prepare a schedule of cost of goods manufactur 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 $8,500 of direct materials. Given this assumption, supply the ed for the year. Assume all raw materials are used in production as direct materials. information missing below: Complete this question by entering your answers in the tabs below 2 of 4Ell Next> Next > 20f 4 K Prev 2 of 4l Next > 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 $8,500 of direct materials. Given this assumption, supply the information missing below: ok Complete this question by entering your answers in the tabs below Required 1Required 2qed 3 Required 4 Required S 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 actu Total raw materials available Raw materials used in production Prev 2 of 4! Next > Finished Goods $ 68,00o 60,000 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 $8,500 of direct materials. Given this assumption, supply the information missing below: Complete this question by entering your answers in the tabs below. Required 1 Compute the unadjusted cost of goods sold for the year. Do not include any underapplied or overapplied overhead in your Required 5>
$ 68,000 60,000 for the year or overapplied the a raw cost of goods sold for the year. Do not include any underapplied or overapplied overhead in your answer that the $39,000 ending balance in Work in Process includes $8,500 of direct materials. Given this assumption, supply the K Prev 2 of 4 Next >
