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). In computing a predetermined overhead rate at the beginning of the year, the company's estimates were as follows: manufacturing overhead cost. $1,190,000: direct materials to be used in production, $680,000. The company's Inventory accounts at the beginning and end of the year were as follows: Raw Materials Work in Process Finished Goods Beginning Ending $ 71,000 $21,800 79,000 168, eee 418,000 278,000 The following actual costs were incurred during the year: $492,000 99,000 Purchase of raw materials (all direct) Direct labour cost Manufacturing overhead costs: Indirect labour Property taxes Depreciation of equipment Maintenance Insurance Rent, building 188,888 49,888 278,000 96,880 8,888 198,888 Required: 1-a. Compute the predetermined overhead rate for the year. Predetermined overhead rate 175 % 1-b. Compute the amount of under-or overapplied overhead for the year. Overapplied overhead is $ 127,700 3. Compute the cost of goods sold for the year. (Do not include any under-or overapplied overhead in your cost of goods sold figure.) Cost of goods sold $ 1,638,300 4. Job 215 was started and completed during the year. What price would have been charged to the customer if the job required $10,300 in direct materials and $4,500 in direct labour cost and the company priced its jobs at 20% above cost to manufacture? Price to customer S 39,390 5. Direct materials made up $25,800 of the $168,000 ending work-in-process Inventory balance. Compute the missing amounts. Amount S 25.800 Direct materials Direct labour Manufacturing overhead Work-in-process inventory S 168,000