PA2-8 (Algo) Recording Manufacturing Costs, Preparing a Cost of Goods Manufactured Report, and Calculating Income from Operations [LO 2-3, 2-4, 2-5, 2-6) Dobson Manufacturing Company uses a job order cost system with manufacturing overhead applied to products on the basis of direct labor dollars. At the beginning of the most recent period, the company estimated its total direct labor cost to be $58,100 and its total manufacturing overhead cost to be $116,200. Several incomplete general ledger accounts show the transactions that occurred during the most recent accounting period which is given in second requirement Required: 1. Calculate the predetermined overhead rate. 2. Fill in the missing values in the T-accounts. 3. Compute over- or underapplied overhead. 4. Prepare a statement of cost of goods manufactured and sold including the adjustment for over- or underapplied overhead. 5. Prepare a brief income statement for the company. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Calculate the predetermined overhead rate. Predetermined Overhead Rate % of Direct Labor Cost Required Required 2 > Required 1 Required 2 Required 3 Required 4 Required Fill in the missing values in the T-accounts. Work in Process Inventory 29,700 Beginning Balance Purchases Ending Balance Raw Materials inventory 13,900 93,000 29,600 69,600 Beginning Balance Direct Materials Direct Labor Applied Overhead Ending Balance $ 42,000 18.200 Finished Goods Inventory 41,800 Cost of Goods Sold Beginning Balance Cost of Goods Completed Ending Balance Unadjusted Cost of Goods Sold Adjusted Cost of Goods Sold 49.400 Sales Revenue Manufacturing Overhead 7,700 317,000 Applied Overhead Indirect Materials Indirect Labor Factory Depreciation Factory Rent Factory Unities Other Factory Costs 14,600 11.600 6.900 1.700 9,000 Check my work Finished Goods Inventory 41,800 Cost of Goods Bold Beginning Balance Cost of Goods Completed Ending Balance Unadjusted Cost of Goods Sold Adjusted Cost of Goods Sold 49,400 Sales Revenue 317.000 Applied Overhead Indirect Materials Indirect labor Factory Depreciation Factory Rent Factory Utilities Other Factory Costs Actual Overhead Manufacturing Overhead 7,700 14,600 11,600 6.900 1,700 9,000 51.500 Selling, General, and Administrative Expenses Adm. Sales 27.400 Office Depreciation 19,700 Advertising 14,200 Ending Balance 61,300 (Required 1 Required 3 > Check SEVGI IL yerini uy COD DHUWUR DOLUVES VIL OLLUT UUTUUSUL OLLUT UU WHIS given in second requirement. Required: 1. Calculate the predetermined overhead rate. 2. Fill in the missing values in the T-accounts. 3. Compute over or underapplied overhead. 4. Prepare a statement of cost of goods manufactured and sold including the adjustment for over- or underapplied overhead. 5. Prepare a brief income statement for the company. Complete this question by entering your answers in the tabs below. Required 4 Required Required 1 Required 2 Required 3 Compute over- or underapplied overhead. Manufacturing Overhead ssive problem Saved Required 1 Required 2 Required 3 Required 4 Required 5 Prepare a statement of cost of goods manufactured and sold including the adjustment for over- or underapplied overhead. DOBSON MANUFACTURING COMPANY Cost of Goods Manufactured and Sold Report Direct Materials used in Production Total Current Manufacturing Costs Total Work in Process Cost of Goods Manufactured Cost of Goods Available for Sale Unadjusted Cost of Goods Sold Prev 1 of 7 !!! Next > Direct Materials used in Production Total Current Manufacturing Costs Total Work in Process Cost of Goods Manufactured Cost of Goods Available for Sale Unadjusted Cost of Goods Sold Adjusted Cost of Goods Sold 1. Calculate the predetermined overhead rate. 2. Fill in the missing values in the T-accounts. 3. Compute over- or underapplied overhead. 4. Prepare a statement of cost of goods manufactured and sold including the adjustment for over- or underapplied overhead. 5. Prepare a brief income statement for the company, Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Prepare a brief income statement for the company. DOBSON MANUFACTURING COMPANY Income Statement Net Income from Operations