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 $54,800 and its total manufacturing overhead cost to be $82,200. 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 Required 1 Required 2 Required 3 Required 4 Required 5 Fill in the missing values in the T-accounts. Beginning Beginning Balance Purchases Ending Balance Raw Materials Inventory 13,300 94,100 28,400 Direct Ma Direct Lat Applied 0 Ending Ba Finished Goods Inventory 40,800 Beginning Balance Cost of Goods Completed Ending Balance Unadjuste Adjusted 49,300 Sales Revenue 310,000 Indirect M Indirect Le Factory D Factory R Factory U Other Fac Actual Oy Selling, General, and Administrative Expenses Adm. Salaries 27,800 Office Depreciation 18,800 Advertising 13,100 Ending Balance 59,700 Work in Process Inventory 28,700 69,300 Beginning Balance Direct Materials Direct Labor Applied Overhead Ending Balance $ 41,400 18,500 Cost of Goods Sold Unadjusted Cost of Goods Sold Adjusted Cost of Goods Sold Applied Overhead Indirect Materials Indirect Labor Factory Depreciation Factory Rent Factory Utilities Other Factory Costs Actual Overhead Manufacturing Overhead 9,700 13,900 12,500 5,000 2,500 9,000 52,600 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 $54,800 and its total manufacturing overhead cost to be $82,200. 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 4 Required 5 Required 1 Required 2 Required 3 Compute over- or underapplied overhead. Manufacturing Overhead Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Prepare a statement of cost of goods manufactured and sold including the adjustment for ove DOBSON MANUFACTURING COMPANY Cost of Goods Manufactured and Sold Report Direct Materials used in Production Total Current Manufacturing Costs Total Work in Process Cost of Goods Manufactured Cost of Goods Available for Sale 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
