H nces 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 $110,500 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. Purchase of raw materials Direct labor cost Manufacturing overhead costs: Indirect labor Property taxes Depreciation of equipment Maintenance Insurance Rent, building Raw Materials $132,000 $81,000 $ 105,400 $ 8,000 $19,000 $14,000 11,400 $35,000 Ending $13,000 $36,000 Beginning $27,000 Work in Process $ 50,000. $70,000 $ 57,000 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 $36,000 ending balance in Work in Process includes $8,000 of direct materials. Given this assumption, supply the information missing below: Complete this question by entering your answers in the tabs below. Check my work any underappled of overappiled overnead in your answer. 5. Assume that the $36,000 ending balance in Work in Process includes $8,000 of direct materials. Given this assumption, supply the information missing below: Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required S Compute the amount of underapplied or overapplied overhead for the year. Underapplied overhead < Required 1 Required 3> 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 $110,500 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: Purchase of raw materials Direct labor cost Manufacturing overhead costar Indirect labor Property taxes Depreciation of equipment Maintenance Insurance Pent, building $132,000 $1,000 $105,400 $8.800 $ 19,000 $ 14,000 $ 11,400 $35,000 Ending $13,000 Beginning Rav Haterials $27,000 Work in Process 5.50,000 $ 36,000 $70,000 $57,000 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 $36,000 ending balance in Work in Process includes $8,000 of direct materials. Given this assumption, supply the information missing below. Complete this question by entering your answers in the tabs below. Check my work Question 7- Module 2 Homew X Grades for HAILEY ANDE education.com/ext/map/index.html?_con con&external browser=0&lau School Work mework Gitano Products operates a job-order costing system and applies production (not on the basis of raw materials purchased). Its prede $110,500 of manufacturing overhead for an estimated allocation ba company has provided the following data for the just completed yo Purchase of raw materials Direct labor cost Manufacturing overhead costs: Indirect labor Property taxes Depreciation of equipment Maintenance. Insurance Rent, building. $ 132,000 $ 81,000 $ 105,400 $ 8,800 $ 19,000 $ 14,000 $ 11,400 $ 35,000 Ending $13,000 Raw Materials Beginning $ 27,000 Work in Process $ 50,000 $ 36,000 Finished Goods $ 70,000 $ 57,000 Required: 1. Compute the predetermined overhead rate for the year. 2. Compute the amount of underapplied or overapplied overhead fo 3. Prepare a schedule of cost of goods manufactured for the year. A 4. Compute the unadjusted cost of goods sold for the year. Do not in 5. Assume that the $36,000 ending balance in Work in Process inclu information missing below: Complete this question by entering your answers in the tabs be Required 1 Required 2 Required 3 Required 4 Required S Compute the amount of underapplied or overapplied overhead for the y < Prev work Saved Help 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 $110,500 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: Purchase of raw materials Direct labor cost Manufacturing overhead costs: Indirect labor Property taxes Depreciation of equipment Maintenance Insurance Rent, building Beginning $ 27,000 $ 132,000 $ 81,000 $ 105,400 $ 8,800 $ 19,000 $ 14,000 $ 11,400 $ 35,000 Ending $13,000 $ 36,000 Raw Materials Work in Process $ 50,000 Finished Goods $ 70,000 $ 57,000