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 $57,400 and its total manufacturing overhead cost to be $86,100. 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. Fill in the missing values in the T-accounts. Raw Materials Inventory 13,100 Work in Process Inventory 29,600 Beginning Balance Purchases 93,500 69,800 Ending Balance 29,000 Beginning Balance Direct Materials Direct Labor Applied Overhead Ending Balance S 41,800 19,700 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 48,300 Sales Revenue 309,000 Selling, General, and Administrative Expenses Adm. Salaries 26,900 Office Depreciation 18,800 Advertising 13,400 Ending Balance 59,100 Manufacturing Overhead Indirect Materials 7.800 Applied Overhead Indirect Labor 13,300 Factory Depreciation 11,900 5,500 1,700 Factory Rent Factory Utilities Other Factory Costs Actual Overhead 8,800 49,000