Gitano Products operates a job-order costing systern and applies oveihead cost to jobs on the basts 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 $119,000 of manufacturing overhead for an estimated allocation base of $85,000 direct material dollars to be used in production. The company has provided the following data for the just completed year. Required: 1. Compute the predetermined overhead rate for the year 2. Compute the amount of underapplied or overapplied overhead for the yeat 3. Prepare a schedule of cost of goods marufactured 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 inctude any underapplied or overapplied overtiead in your answer. 5. Assume that the $40,000 ending balance in Work in Process includes $8,200 of direct materials. Given this assumption, supply the information missing below. 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 $119,000 of manufacturing overhead for an estimated allocation base of $85.000 direct material dollars to be used in production. The company has provided the following data for the just completed year: Requited A. Compute the predetermined oveihead rate for the year, 2. Compute the amount of vanderapplied or overapplied overhead for the year. A. Prepare a schedule of cost of goods manufactured for the year. Assume all raw materials are used in productoci as direct materials. A. Compute the unadusted cost of goods sold for the yeat, Do not include amy underappled or overappiled overhead in your answet A. Assume that the 540000 ending balance in Work in Process includes $8200 of diect materials Given this assumption. Fupply the informotion miseing below Complete this question by anterieg your answers in the tabs betow. Cumpute the amount of underapplied or overapplied overtead for the year. 4. Compute the amount or unoerappilea or overappileo overneaa tor 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 $40,000 ending balance in Work in Process includes $8,200 of direct materials. Given this assumption, supply the information missing below: Complete this question by entering your answers in the tabs below. Prepare a schedule of cost of goods manufactured for the year. Assume all raw materials are used in production as direct materials. Compute the unadjusted cost of gooch sold for the year. Do not include any underapplied or overappied oventeaci youl on Assume that the $40,000 ending balance in Work in Process includes $8,200 of direct materials. Given this assumption, suppiy the nformation missing below: Complete this question by entering your answers in the tabs below. Compute the unadjunted cent of gonds sold for the year De not inctude asy underappled or overapplied overhead in your amawer. Prepare a schedule of cost of goods manufactured for the year. Assume all raw materials are used in Compute the unadjusted cost of goods sold for the year. Do not include any underapplied or overapplied overhead in your answer. Assume that the $40,000 ending balance in Work in Process includes $8,200 of direct materials. Given this assumption, supply the iformation missing below: Complete this question by entering your answers in the tabs below. Assume that the $40,000 ending balance in Work in Process includes 58,200 of direct materials. Given this assumption, supply the intormation missing below
