Curtis Inc. uses a job order costing system. Manufacturing overhead is applied on the basis of direct labor cost. Total manufacturing overhead was estimated to be $60,680 for the year; direct labor was estimated to total $151,700.

Raw Materials Inventory

(1/1) $ 10,700

(12/31) $ 13,700

Work in Process Inventory

(1/1) $ 23,900

(12/31) $ 18,500

Finished Goods Inventory

(1/1) $ 34,100

(12/31) $ 40,000

The following transactions have occurred during the year.

Raw materials purchases $ 107,000

Direct materials used $ 96,200

Direct labor $ 147,500

Indirect materials used $ 7,800

Indirect labor $ 15,500

Factory equipment depreciation $ 24,700

Factory rent $ 18,300

Factory utilities $ 8,100

Other factory costs $ 6,800

(a) Calculate the predetermined overhead rate. (b) Calculate cost of goods manufactured. (c) Calculate the over- or underapplied overhead. (Input all amounts as positive values.)

(d) Calculate adjusted cost of goods sold.