Gitano Products operates a job-order costing system and applies overhead cost tojobs on the basis of direct materials used in production (noton the basis of raw materials purchased). Its predetermined overhead rate was based on a cost formula that estimated $120,400 of manufacturing overhead for an estimated allocation base of $86,000 direct material dollars to be used in production. The company has provided the following data for thejust completed year: Purchase of raw materials $ 137,000 Direct labor cost $ 82.000 Manufacturing overhead costs: Indirect labor $ 123,400 Property taxes $ 8.700 Depreciation of equipment $ 20,000 Maintenance $ 13.000 Insurance $ 10,600 Rent, building $ 32.000 Beginning Ending Raw Materials $ 22,000 $ 13,000 Work in Process $ 45,000 $ 36,000 Finished Goods $ 74,000 $ 59.000 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 $36,000 ending balance in Work in Process includes $8,600 of direct materials. Given this assumption, supply the information missing below: Prepare a schedule of cost of goods manufactured for the year. Assume all raw materials are used in production as direct materials. Direct materials: _ Beginning raw materials inventory _ Add. Beginning work' In process inventory Total raw materials available 0051 of goods manufactured Compute the unadjusted cost of goods sold for the year. Do not include any underapplied or overapplied overhead in your answer. Unadjusted cost of goods soldAssume that the $36,000 ending balance in Work in Process includes $8,600 of direct materials. Given this assumption, supply the information missing below: Direct materials Direct labor _ Manufacturing overhead Work in process inventory