Complete this question by entering your answers in the tabs below. Compute the unadjusted cost of goods sold for the year. Do not include any underapplied or overapplied overhead in your answer. \begin{tabular}{|l|lr|} \hline Direct materials & $ & 8,700 \\ \hline Direct labor & & \\ \hline Manufacturing overhead & & \\ \hline Work in process inventory & $ & 39,000 \\ \hline \end{tabular} 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 $119,600 of manufacturing overhead for an estimated allocation base of $92,000 direct material dollars to be used in production. The company has provided the following data for the just completed year: 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 $8,700 of direct materials. Given this assumption, supply the information missing below: Complete this question by entering your answers in the tabs below. Required 2 \begin{tabular}{|l|r|r|r|} \hline \multicolumn{4}{|c|}{ Gitano Products } \\ \hline & & & $ \\ \hline \multicolumn{2}{|c|}{ Schedule of Cost of Goods Manufactured } \\ \hline Direct materials: & & & \\ \hline Beginning raw materials inventory & 139,000 & & \\ \hline Add: Purchases of raw materials & 163,000 & & \\ \hline Total raw materials available & 13,000 & & \\ \hline Less: Ending raw materials inventory & & $150,000 & \\ \hline Direct materials used in production & & 88,000 & \\ \hline Direct labor & & 199,800 & \\ \hline Manufacturing overhead applied to work in process & & & 437,800 \\ \hline Total manufacturing costs added to production & & & 482,800 \\ \hline Total manufacturing costs to account for & & & 39,000 \\ \hline Less: Ending work in process inventory & & & $43,800 \\ \hline Cost of goods manufactured \end{tabular} 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 $119,600 of manufacturing overhead for an estimated allocation base of $92,000 direct material dollars to be used in production. The company has provided the following data for the just completed year: 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 $8,700 of direct materials. Given this assumption, supply the information missing below: Complete this question by entering your answers in the tabs below. Compute the predetermined overhead rate for the year