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 $139,000 $ 83,000 Direct labor cost Manufacturing overhead costs: 119,800 $ 8,900 19,000 13,000 11,800 35,000 Indirect labor Property taxes Depreciation of equipment Maintenance Insurance Rent, building Beginning Ending $ 29, 000 12,000 $ 47,000 39,000 $ 69,000 60,000 Raw Materials Work in Process Finished Goods 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 $39,000 ending balance in Work in Process includes $8,200 of direct materials. Given this assumption, supply the information missing below: Required 1Required 2Required 3 Required 4 Required 5 Compute the predetermined overhead rate for the year. 19% redetermined overhead rate Required 1Required 2Required 3 Required 4 Required 5 Compute the amount of underapplied or overapplied overhead for the year overhead Required 1 Required 2 Required 3Required 4 Required 5 Prepare a schedule of cost of goods manufactured for the year. Assume all raw material materials Gitano Products Schedule of Cost of Goods Manufactured Direct materials: Total raw materials available Raw materials used in production Total manufacturing costs Cost of goods manufactured Required 1 Required 2 Required 3Required 4Required 5 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 sold Required 1Required 2 Required 3 Required 4Required 5 Assume that the $39,000 ending balance in Work in Process includes $8,200 of direct materials. Given this assumption, supply the information missing below: Direct materials Direct labor Manufacturing overhead Work in process inventory