Gitano Products operates a job$-$order costing system and applies overhead cost to jobs on the basis of direct materials used in production $($not on the basis of raw materials purchased$).$ Its predetermined overhead rate was based on a cost formula that estimated $$113,100$ of manufacturing overhead for an estimated allocation base of $$87,000$ direct material dollars to be used in production. The company has provided the following data for the just completed year:

Purchase of raw materials $ $137,000$

Direct labor cost $ $83,000$

Manufacturing overhead costs:

Indirect labor $ $121,400$

Property taxes $ $8,300$

Depreciation of equipment $ $18,000$

Maintenance $ $13,000$

Insurance $ $8,100$

Rent, building $ $31,000$

Beginning Ending

Raw Materials $ $24,000$ $ $10,000$

Work in Process $ $48,000$ $ $38,000$

Finished Goods $ $73,000$ $ $58,000$

Required:

$1.$ Compute the predetermined overhead rate for the year.

$2.$ Compute the amount of underapplied or overapplied overhead for the year.

$3.$ Prepare a schedule of cost of goods manufactured for the year. Assume all raw materials are used in production as direct materials.

$4.$ Compute the unadjusted cost of goods sold for the year. Do not include any underapplied or overapplied overhead in your answer.

$5.$ Assume that the $$38,000$ ending balance in Work in Process includes $$8,300$ of direct materials. Given this assumption, supply the information missing below: