Ecola Company uses a job order costing system. Manufacturing overhead is applied on the basis of direct labor cost. Total manufacturing overhead was estimated to be $204,000 for the year; direct labor was estimated to total $255,000. Raw Materials Inventory Work in Process Inventory Finished Goods Inventory (1/1) (12/31) $22,100 $17,000 $49,300 $37,400 $69,700 $54,400 The following transactions have occurred during the year. Raw materials purchases Direct materials used Direct labor Indirect materials used $170,000 $147,900 $229,500 $ 27,200 Indirect labor $ 32,300 Factory equipment depreciation $ 47,600 Factory rent Factory utilities Other factory costs $ 25,500 $19,550 $ 14,450 (a) Calculate the predetermined overhead rate. Predetermined Overhead Rate 80% (b) Calculate cost of goods manufactured Cost of Goods Manufactured