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 $51,200 and its total manufacturing overhead cost to be $81,920 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 termined Overhead Rate 1601 % of Direct Labor Cost 2. Fill in the missing values in the T-accounts Raw Materials Inventory Work in Process Inventory 13,200 93,500 28,200 29,500 69,600 41,200 65,920 18,500 Beginning Balance 78,500 Beginning Balance Direct Materials Direct Labor Applied Overhead Ending Balance Ending Balance Finished Goods Inventory Cost of Goods Sold 40,200 187,720 49,000 Unadjusted Cost of Goods Sold Beginning Balance Cost of Goods Completed Ending Balance Adjusted Cost of Goods Sold Sales Revenue Manufacturing Overhead 301,000 8,900 13,500 12,200 6,900 1,100 8,800 51,400 Applied Overhead Indirect Materials Indirect Labor Factory Depreciation Factory Rent Factory Utilities Other Factory Costs Actual Overhead Selling, General, and Administrative Expenses Adm. Salaries Office Depreciation Advertising Ending Balance 26,400 19,900 14,300 60,600 3. Compute over- or underapplied overhead Manufacturing Overhead 4. 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 0 Total Work in Process Cost of Goods Manufactured Cost of Goods Available for Sale Unadjusted Cost of Goods Sold Adjusted Cost of Goods Sold 5. Prepare a brief income statement for the company. DOBSON MANUFACTURING COMPANY Income Statement Net Income from Operations