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 $130,500 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 Direct labor cost Manufacturing overhead costs: Indirect labor Property taxes Depreciation of equipment Maintenance Insurance Rent, building $ 135,000 $ 83,000 $ 140,700 $ 8,200 $ 17,000 $ 12,000 $ 8,800 $ 37,000 Raw Materials Work in Process Finished Goods Beginning Ending $ 29,000 $ 17,000 $ 46,000 $ 35,000 $ 73,000 $ 62,000 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 $35,000 ending balance in Work in Process includes $8,300 of direct materials. Given this assumption, supply the information missing below: to this question by entering your answers in the tabs below. ob Order Costing Work in Process Finished Goods $ 46,000 $ 35,000 $ 73,000 $ 62,000 Seved cation.com%252F 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 mate 4. Compute the unadjusted cost of goods sold for the year. Do not include any underapplied or overapplied overhead in your ans 5. Assume that the $35,000 ending balance in Work in Process includes $8,300 of direct materials. Given this assumption, suppl information missing below: Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5. Compute the predetermined overhead rate for the year. Predetermined overhead rate % Required 2 > Work in Process Finished Goods 46,000 $ 35,000 $ 73,000 $ 62,000 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 materia 4. Compute the unadjusted cost of goods sold for the year. Do not include any underapplied or overapplied overhead in your answ 5. Assume that the $35,000 ending balance in Work In Process includes $8,300 of direct materials. Given this assumption, supply Information missing below: Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Compute the amount of underapplied or overapplied overhead for the year. overhead Required 1 Required 2 Required 3 Required 4 Required 5 Prepare a schedule of cost of goods manufactured for the year. Assume all raw materials are used in production as dire materials. Direct materials: Gitano Products Schedule of Cost of Goods Manufactured Total raw materials available Raw materials used in production Total manufacturing costs Cost of goods manufactured 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 produs 4. Compute the unadjusted cost of goods sold for the year. Do not include any underapplied or overapplied c 5. Assume that the $35,000 ending balance in Work in Process includes $8,300 of direct materials. Given thi information missing below: Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Compute the unadjusted cost of goods sold for the year. Do not include any underapplied or overapplied overhe answer. Unadjusted cost of goods sold 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 4. Compute the unadjusted cost of goods sold for the year. Do not include any underapplied or overapplied overhead 5. Assume that the $35,000 ending balance in Work in Process Includes $8,300 of direct materials. Given this assum Information missing below: Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 4 Required 3 Required 5 Assume that the $35,000 ending balance in Work in Process includes $8,300 of direct materials. Given this assumptions supply the information missing below: Direct materials Direct labor Manufacturing overhead Work in process inventory