i Income Statement (with cost of goods sold adjustment) Yamamoto, Inc. Income Statement Year Ended December 31 Sales Cost of goods sold before adjustment for underapplied overhead Adjustment for underapplied overhead Cost of goods sold Gross prot Less operating (nonmanufacturing) expenses: Selling General and administrative Operating prot M Correct Incorrect Incorrect Incorrect Incorrect Incorrect Incorrect Incorrect Income Statement (with cost of goods sold adjustment) Milan Company Income Statement Year Ended December 31 Sales Cost of goods sold before adjustment for overapplied overhead Adjustment for overapplied overhead Cost of goods sold Gross prot Less operating (nonmanufacturing) expenses: Selling General and administrative Operating prot $5,000,000 Correct Incorrect Incorrect Incorrect Incorrect Incorrect Incorrect Incorrect Manufacturing Overhead Allocation Base and Calculating the Cost of Jobs For part a below, enter the predetermined overhead rate for each ofthe three allocation bases in the boxes provided. Round to the nearest cent. Dollar signs are not required. a. The predetermined overhead rate per direct labor hour = $ 6000 Correct The predetermined overhead rate per direct labor cost = I:| Incorrect The predetermined overhead rate per machine hour = I:| Incorrect For part b below, use the drop down menu to select the best answer from the options provided. b. The best answer is: El Incorrect Answer choices: 1. Direct labor hours make up a signicant portion of the company's overhead costs. 2. Direct labor costs are the primary cause for the number of machine hours used. 3. Machine hours are the primary cause of the company's overhead costs. For part c below, enter the appropriate dollar amount in each cell. Dollar signs and commas are not required. For part c below, enter the appropriate dollar amount in each cell. Dollar signs and commas are not required. c. Three different cost calculations are required: Direct Direct Direct Labor Labor Labor Machine Hours Column Hours Cost Hours is: Direct materials 3; 6,000 Incorrect Direct labor 4,000 Incorrect Manufacturing overhead 20,000 Incorrect Total cost of Job 128 $30,000 Incorrect