Giltano Products operates a job order costing system and applies overhead cost to jobs on the basis of drect mateilats used in production (not on the basis of raw materials puichased) is predetermined overhedd rate wis biased ort a cont fotmula that estlimated $800,000 of manufacturing ovethend for all estiasated allocation base of $500000 direct mateetat dollars fo be tsed in production. The compiny has provided the following data for the just completed year Required: 1. Compute the predefermined overbead rate for the yeac. 2. Compute the amount of underapplied or ovel applied overtiead foc the yeat. 3. Prepare a schedule of cost of goods manufoctuled for the year. Assume all raw materials are used in production as direct materiats, 4. Compute the unadjusted cost of goods sold for the year. Do not include ary underapplied or overapplied overhead in yout answee 5. Assume that the $70,000 ending balance in Work in Process includes $24,000 of ditect mateials. Given this assumption, supply thet information missing below: Complete this question by entering your answers in the tabs below