Dobson Manufacturing Company uses a job order cost system with manufacturing overhead applied to products on the basis of direct labor dolars. At the beginning of the most recent period, the company estimated its total direct labor cost to be $50,000 and its total manufacturing overhead cost to be $75,000. Several incomplete general ledger accounts show the transactions that occurred during the most recent accounting period which is given in second requirement. Required: 1. Calculate the predetermined overhead rate 2. Fill in the missing values in the T-accounts. 3. Compute over- or underapplied overhead. 4. Prepare a statement of cost of goods manufactured and sold including the adjustment for over or underapplied overhead. 5. Prepare a brief income statement for the company equr required Hequired reques required Fill in the missing values in the T-accounts Work in Process Inventory 29,200 Beginning Balance Purchases Ending Balance Raw Materials Inventory 13,900 93,800 28,800 Beginning Balance Direct Materials Direct Libor Applied Overhead Ending Balance 68,400 40,100 $ 18,200 Cost of Goods Sold Finished Goods Inventory 40,100 Beginning Balance Cost of Goods Completed Ending Balance Unadjusted Cost of Goods Sold Adjusted Cost of Goods Sold ces 49,700 Sales Revenue 310.000 Applied Overhead Indirect Mars Indirect Labor Factory Depreciation Factory Rent Factory Utilities Other Factory Costs Actual Overhead Manufacturing Overhead 10.500 14,500 12,000 6,500 1.000 8,000 53,100 Selling General and Administrative Expenses 26.300 Adm. Salarios 4 labor dollars. At the beginning of the most recent period, the company estimated its total direct labor cost to be $50,000 and its total manufacturing overhead cost to be $75,000. Several incomplete general ledger accounts show the transactions that occurred during the most recent accounting period which is given in second requirement Required: 1. Calculate the predetermined overhead rate 2. Fill in the missing values in the T-accounts 3. Compute over- or underapplied overhead 4. Prepare a statement of cost of goods manufactured and sold including the adjustment for over or underapplied overhead, 5. Prepare a brief income statement for the company Book Print Complete this question by entering your answers in the tabs below. References Required: Required 2 Required 3 Required 4 Required Compute over- or underapplied overhead Manufacturing Overhead Required 1 Required 2 Required 3 Required 4 Required 5 2 points Prepare a statement of cost of goods manufactured and sold including the adjustment for over- or underapplied overhead. DOBSON MANUFACTURING COMPANY Cost of Goods Manufactured and Sold Report Beginning Raw Materials Inventory Book Plus: Raw Material Purchases Print Direct Materials used in Production References Total Current Manufacturing Costs 0 Total Work in Process $ 0 Cost of Goods Manufactured Cost of Goods Available for Sale $ 0 Unadjusted Cost of Goods Sold Adjusted Cost of Goods Sold Required: 1. Calculate the predetermined overhead rate. 2. Fill in the missing values in the T-accounts. 3. Compute over- or underapplied overhead. 4. Prepare a statement of cost of goods manufactured and sold including the adjustment for over- or underapplied overhead. 5. Prepare a brief income statement for the company Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Prepare a brief income statement for the company. DOBSON MANUFACTURING COMPANY Income Statement Net Income from Operations
