Gitano Products uses job$-$order costing and applies overhead cost to jobs based on direct materials used in production $($not on the basis of raw materials purchased$).$ Its predetermined overhead rate is based on a cost formula that estimated $$121,800$ of manufacturing overhead for an estimated allocation base of $$87,000$ direct material dollars to be used in production. The company provided the following data for the just completed year:

Purchase of raw materials $ $130,000$

Direct labor cost $ $83,000$

Manufacturing overhead costs:

Indirect labor $ $109,200$

Property taxes $ $8,900$

Depreciation of equipment $ $19,000$

Maintenance $ $14,000$

Insurance $ $10,900$

Rent, building $ $36,000$

Beginning Ending

Raw Materials $ $21,000$ $ $13,000$

Work in Process $ $46,000$ $ $38,000$

Finished Goods $ $75,000$ $ $61,000$

Required:

$1.$ Compute the predetermined overhead rate.

$2.$ Compute the amount of underapplied or overapplied overhead.

$3.$ Prepare a schedule of cost of goods manufactured. Assume all raw materials are used in production as direct materials.

$4.$ Compute the unadjusted cost of goods sold. Do not include any underapplied or overapplied overhead in your answer.

$5.$Assume the $$38,000$ ending balance in Work in Process includes $$8,400$ of direct materials. Given this assumption, supply the information missing below: