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 $57,800 and its total manufacturing overhead cost to be $92,480. 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 5 Required 3 Required 4 Required 1 Required 2 Calculate the predetermined overhead rate. % of Direct Labor Cost Predetermined Overhead Rate Raw Materials Inventory Work in Process Inventory 13,000 Beginning Balance Beginning Balance 29,900 Purchases 93,400 Direct Materials 68,700 Ending Balance 29,000 Direct Labor 41,500 Applied Overhead 18,800 Ending Balance pes Finished Goods Inventory Cost of Goods Sold Unadjusted Cost of Goods Sold Beginning Balance 40,400 Cost of Goods Completed Adjusted Cost of Goods Sold 48,500 Ending Balance Manufacturing Overhead 8,700 Sales Revenue 314,000 Appl Indirect Materials Indirect Labor 13,100 Saved Sales Revenue Indirect Materials 314,000 Indirect Labor Factory Depreciation Factory Rent Factory Utilities Other Factory Costs Actual Overhead Selling, General, and Administrative Expenses Adm. Salaries 26,900 Office Depreciation 19,600 14,600 Advertising Ending Balance 61,100