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Chec Problem 3-14 (Algo) Schedule of Cost of Goods Manufactured; Overhead Analysis [LO3-3, LO3-4] 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: $ 139,000 $ $1,000 Purchase of raw materials Direct labor cost Manufacturing overhead costs Indirect labor Property taxes Depreciation of equipment Maintenance Insurance Rent, building $ 128,300 5 3,900 $ 19.000 $ 12,000 9,600 38,000 Raw Materials Work in Process Finished Goods Beginning Ending $ 27,9005 14,000 $50,000$ 38,000 570,000 $39,000 Required: 1 compute the predetermined overhead rate for the yeat. 2. Compute the amount of underapplied or ove applied 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 $38.000 ending balance in Work in Process includes $8.100 of direct materials. Given this assumption supply the information missing below. %253A%252F Raw Materiais Work in Process Finished Goods 21,00 14, $50,000 $ 38,000 $ 70,000 $ 59,000 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 mate 4. Compute the unadjusted cost of goods sold for the year. Do not include any underar 5. Assume that the $38,000 ending balance in Work in Process includes $8,100 of dire information missing below: Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Compute the predetermined overhead rate for the year. Predetermined overhead rate 1401% Required 2 > 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 materia 4. Compute the unadjusted cost of goods sold for the year. Do not include any underappl 5. Assume that the $38,000 ending balance in Work in Process includes $8,100 of direct information missing below: Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Compute the unadjusted cost of goods sold for the year. Do not include any underapplied or answer. Unadjusted cost of goods sold $ 468,800 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 mate 4. Compute the unadjusted cost of goods sold for the year. Do not include any underap 5. Assume that the $38,000 ending balance in Work in Process includes $8,100 of direc information missing below Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Assume that the $38,000 ending balance in Work in Process includes $8,100 of direct mate supply the information missing below: $ Direct materials Direct labor Manufacturing overhead Work in process inventory 8,100 18,560 11.340 38.000 $ 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 materia 4. Compute the unadjusted cost of goods sold for the year. Do not include any underappl 5. Assume that the $38,000 ending balance in Work in Process includes $8,100 of direct information missing below: Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Compute the unadjusted cost of goods sold for the year. Do not include any underapplied or answer. Unadjusted cost of goods sold $ 468,800 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 mate 4. Compute the unadjusted cost of goods sold for the year. Do not include any underap 5. Assume that the $38,000 ending balance in Work in Process includes $8,100 of direc information missing below Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Assume that the $38,000 ending balance in Work in Process includes $8,100 of direct mate supply the information missing below: $ Direct materials Direct labor Manufacturing overhead Work in process inventory 8,100 18,560 11.340 38.000 $
