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 $59.400 and its total manufacturing overhead cost to be $95,040. 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, Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Required 1 Required 2 Required 3 Required 4 Required 5 Calculate the predetermined overhead rate. Predetermined Overhead Rate 160 % of Direct Labor Cost Required 1 Required 2 Required 3 Required 4 Required 5 Fill in the missing values in the T-accounts. Work in Process Inventory 79.000 28.400 Beginning Balance Purchases Ending Balance Raw Materials Inventory 13,400 94 200 28.600 69 800 Beginning Balance Direct Materials Direct Labor Applied Overhead Ending Balance 41 200 18.500 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 Required 1 Required 2 Required 3 Required 4 Required 5 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 Direct Materials used in Production Total Current Manufacturing Costs Total Work in Process Direct Materials Used in Production Total Current Manufacturing Costs Total Work in Process 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 Net Income from Operations Cost of Goods Sold Finished Goods Inventory 41,600 Beginning Balance Cost of Goods Completed Ending Balance Unadjusted Cost of Goods Sold Adjusted Cost of Goods Sold 49.300 Sales Revenue 311.000 Applied Overhead Manufacturing Overhead 9.2001 14,600 11,400 Indirect Materials Indirect Labor Factory Depreciation Factory Rent Factory Utilities Other Factory Costs Actual Overhead 2.200 9.200 53.400 Selling. General, and Administrative Expenses Adm Salaries 27.000 Office Depreciation 18.900 Advertising 14.000 Ending Balance 59.900