Gitano Products operes o job-order costing system and applies overhead cost to jobs on the basis of direct materials used in production (nor on the basis of raw materials purchased), o predetermined overhead rate was based on a cost formula that estimated $128.000 of manufacturing overhead for an estimated blocation base of $92,000 direct material dollars to be used in production. The company has provided the following data for the just completed year 133.00 38,00 Phase of waters 9 manufacturing overhead costs: Indirect libon Property Depreciation of it $154, . 3 16.00 5 11. $ 38.100 $ 34,000 tance ent, building Material in process Finished Goods $ 27,00 10,000 5. 35.000 9.00.00 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 direct materials 4. Compute the unadjusted cost of goods sold for the year. Do not include any underapplied or overapplied overhead your answer 5. Assume that the $35.000 ending balance in Work In Process includes $8,400 of direct materials. Given the sumption supply the Information missing below Complete this question by entering your answers in the tabs below. Required Required Required Required 4 Required Compute the predetermined overhead rate for the year Het Required 2 > Gitano Products operates a job-order costing system and spplies overhead cost to jobs on the basis of direct moterials used in production (not on the basis of raw materials purchased. Its predetermined overhead rate was based on a cost formule that estimated $138,000 of manufacturing overhead for an estimated allocation base of $92000 direct material collars to be used in production. The company has provided the following data for the just completed year 31377,000 3 SH Purchase of raw materials Direct labor cost Manufacturing overhead costs: Indirect labore Property taxes Depreciation of equipoent Maintenance Insurance Rent, building 154,600 8.400 16, doo 11,000 10 100 14,000 $ Raw Materials Mark in Process Finished Goods Beginning lindin $ 27,000 3 10.000 $ 48,3 35,00 $ 6,000 3.000 Required: 1. Compute the predetermined overhead rote 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 a direct materials, 4. Compute the unadjusted cost of goods sold for the year. Do not indude any underappled or overoppiled overhead in your answer 5. Assume that the $35.000 ending balance in Work in Process includes $8.400 of olleet material Gver this assumption supply the information missing below. Complete this question by entering your answers in the tabs below. Required Required 2 Required 3 Required Required 5 Compute the amount of underapplied or overapplied overhead for the veat Othead Gano Produce operates a job order coating system and applies overheed Co jobs on the basis of direct materials vrede production (not on the basis of raw materials purchased predeemined overhead rate was based on a cost formule that estimated SO3.000 of manufacturing overhead for an estimated allocation base of $92000 direct material dollars to be used in production. The company has provided the following done for the just completed year . St Last och det Indirect erty Door 1 154 $ . $16. $1. $10. 5 H Pro 11.10. 5. 1.. Required 1. Compute the predetermined overhead rate for the year 2. Compute the amount of underspplied or overapplied overhead for the year 2. Prepare a schedule of cost of goods manufactured for the year Assume raw materials are used in productions direct materiel 4 Compute the injusted cost of goods sold for the year. Do not indude any underopplied or overapplied overhead in your answer 5. Assume that the $35.000 ending balance in Work in Process includes $3.400 of direct materials version upply the information missing belove Complete this question by entering your answers in the tabs below. 3 Required Pedule of cost a matured for the Austrated die Gine Products Ichedule of Cost of oostatud Required > 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 $38,000 of manufacturing overhead for an estimated allocation base of $92,000 direct material dollars to be used in production. The company has provided the following data for the just completed year $137,000 $ 8,00 Purchase of waterinis Director test acturing overhead cents: Indirect la Property to Depreciation of cont Mai 3154.00 $ 3.100 $ 16.000 5 11, 5 10.10 5 30.000 en building Paris work in Process Finished Goods Beim Endine 327.5 10,000 $15.00 15.000 $9.000.000 Required: 1 Compute the predetermined overhead rate for the year 2 Compute the amount of underapplied or overapplied overhead for the year 2. Prepare 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 $8.400 of direct materials. Given this assumption, supply the information missing belon Complete this question by entering your answers in the tabs below. Required Med 2 Reed 3 Red Required 5 Compute the unadjusted cost of youds sold for the year. Do not include any underapplied or everapplied overhead yout
