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 $53,600 and its total manufacturing overhead cost to be $101,840. Several incomplete general ledger accounts show the transactions that occurred during the most recent accounting period which is given in second requirement. 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. Raw Materials Inventory 13,200 Work in Process Inventory 29.900 Beginning Balance Beginning Balance Purchases Ending Balance 94.700 Direct Materials 68,100 28.700 Direct Labor $ 40.700 Applied Overhead Ending Balance 19,600 Cost of Goods Sold Finished Goods Inventory 40.600 Beginning Balance Cost of Goods Completed Ending Balance Unadjusted Cost of Goods Sold Adjusted Cost of Goods Sold 49,900 Sales Revenue Manufacturing Overhead 11,100 302.000 Indirect Materials Applied Overhead Indirect Labor 13.900 11.200 6.000 Factory Depreciation Factory Rent Factory Utilities Other Factory Costs Actual Overhead 2,300 9,300 53,800 Selling, General, and Administrative Expenses 27.100 Adm. Salaries 18,700 Office Depreciation Advertising Ending Balance 14,700 60,500 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 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