Dobson Manufacturing Company uses a job order cost system with manufacturing overhead applied to products on the basis of direct labor dollars. At the beginning of the most recent period, the company estimated its total direct labor cost to be $56,400 and its total manufacturing overhead cost to be $101,520. 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Calculate the predetermined overhead rate. Predetermined Overhead Rate % of Direct Labor Cost Raw Materials Inventory Work in Process Inventory Beginning Balance 14,100 Beginning Balance 29,700 Purchases 94,400 Direct Materials 68,600 Ending Balance 29,700 Direct Labor $ 41,400 Applied Overhead Ending Balance 19,600 Finished Goods Inventory Cost of Goods Sold 40,500 Cost of Goods Sold Beginnir Balance Cost of Goods Completed Adjusted Cost of Goods Sold Ending Balance 49,500 Sales Revenue Manufacturing Overhead 302,000 Indirect Materials 10,200 Applied Indirect Labor 14,100 11,600 Factory Depreciation Factory Rent Factory Utilities 6,200 2,100 Other Factory Costs 9200 Cost of Goods Sold Finished Goods Inventory 40,500 Beginning Balance Cost of Goods Completed Ending Balance Unadjusted Cost of Goods Sold Adjusted Cost of Goods Sold 49.500 Sales Revenue Manufacturing Overhead 10,200 302,000 Indirect Materials Applied Indirect Labor 14,100 Factory Depreciation 11,600 6,200 2.100 Factory Rent Factory Utilities Other Factory Costs Actual Overhead 9,200 53,400 Selling, General, and Administrative Expenses Adm. Salaries 27,700 Office Depreciation 18,700 Advertising 15,000 Ending Balance 61,400 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Compute over- or underapplied overhead. Manufacturing Overhead Prepare a statement of cost of goods manufactured and sold including the adjust DOBSON MANUFACTURING COMPANY Cost of Goods Manufactured and Sold Report Direct Materials Used in Production 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 Required 2 Required 3 Required 4 Required 5 Prepare a brief income statement for the company. DOBSON MANUFACTURING COMPANY Income Statement Accounts Payable Net Income from Operations
