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 $52,800 and its total manufacturing overhead cost to be $105,600 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 Calculate the predetermined overhead rate. Predetermined Overhead Rate % of Direct Labor Cost Required 2 > 11 Beginning Balance Purchases Ending wine Raw Materials Inventory 14,900 94,400 29.900 Beginning Bilance Direct Materials Direct Labor Applied Overhead Ending Balance Work in Process Inventory 28,700 69,100 $ 40,000 18.800 Finished Goods Inventory 41.100 Cont of Goods Sold Beginning Bilance Cost of Goods Completed Ending Balance Unadused Cost of Goods Sold Adjusted Cost of Goods Sold 49.600 Sales Revenue 314,000 Applied Overhead Indirect Materials Indirect Labor Factory Depreciation Factory Rent Factory Units Other Factory Costs Actual Overhead Manufacturing Over 10,300 13,500 12,800 6.800 2.900 9,300 55,400 Selling General, and Administrative Expenses Adm Salaries 27.100 Orice Depreciation 19,500 Advertising 13,000 Ending Balance 60,400 C Oo Help 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 $52,800 and its total manufacturing overhead cost to be $105,600. 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) Required 4 Required 5 Compute over or underapplied overhead Manufacturing Overhead 9 A 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 $ 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 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 Prepare a brief income statement for the company, DOBSON MANUFACTURING COMPANY Income Statement Net Income from Operations
