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 $52,400 and its total manufacturing overhead cost to be $89,080. 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. Raw Materials Inventory 14,900 93,600 Beginning Balance Purchases Ending Balance Beginning Balance Work in Process Inventory 29,200 89,300 S 41,100 Direct Materials 29,900 Direct Labor Applied Overhead Ending Balance 19,300 Cost of Goods Sold Finished Goods Inventory 40.800 Beginning Balance Cost of Goods Completed Ending Balance Unadjusted Cost of Goods Sold Adjusted Cost of Goods Sold 48,600 Sales Revenue Manufacturing Overhead 310,000 9,300 Applied Overhead 14,700 Indirect Materials Indirect Labor Factory Depreciation Factory Rent Factory Utilities Other Factory Costs Actual Overhead 12,200 6,000 2.500 8,000 52,700 Selling, General, and Administrative Expenses Adm. Salaries Office Depreciation Advertising Ending Balance 27,100 19,300 13,900 60,300