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 $57,900 and its total manufacturing overhead cost to be $104,220. 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. Predetermined Overhead Rate % of Direct Labor Cost Raw Materials Inventory 14,500 Work in Process Inventory 28,400 Beginning Balance Beginning Balance Direct Materials Purchases 94,600 68,700 Ending Balance 29,400 Direct Labor $ 41,900 Applied Overhead Ending Balance 19,400 Cost of Goods Sold Finished Goods Inventory 40,300 Beginning Balance Cost of Goods Completed Ending Balance Unadjusted Cost of Goods Sold Adjusted Cost of Goods Sold 49,300 Sales Revenue Manufacturing Overhead 11,000 317,000 Indirect Materials Applied Overhead Indirect Labor 13,100 12,600 Factory Depreciation Factory Rent Factory Utilities Other Factory Costs Actual Overhead 5,600 1,600 9,900 53,800 Selling, General, and Administrative Expenses 27,400 Adm. Salaries 18,400 Office Depreciation Advertising Ending Balance 14,100 59,900 Manufacturing 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 DOBSON MANUFACTURING COMPANY Income Statement Net Income from Operations