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 $54,000 and its total manufacturing overhead cost to be $86.400. 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 underapphed 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 Required 4 Required 5 Calculate the predetermined overhead rate. Prodetened Overhead Rate % of Direct Labor Cost Reguland 2 e to search Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required Fill in the missing values in the T-accounts. Beginning Balance Purchases Ending Balance Raw Materials Inventory 13.700 93 900 Beginning Balance Direct Materials Work in Process Inventory 28 200 69 300 $ 41 800 30,000 Direct Labor Applied Overhead Ending Balance 18,100 Cost of Goods Sold Finished Goods Inventory 40 900 Unadjusted Cost of Goods Sold Beginning Balance Cost of Goods Completed Ending Balance Adjusted Cost of Goods Sold 49,200 Sales Revenue 311,000 Applied Indirect Materials Indirect Labor Manufacturing Overhead 8,300 13,800 11,900 6,200 Factory Depreciation Factory Rent o search O ab ework Saved SH Cost of Goods Sold Finished Goods Inventory 40.900 Beginning Balance Cost of Goods Completed Ending Balance Unadjusted Cost of Goods Sold Adjusted Cost of Goods Sold 49.200 Sales Revenue 311 000 Manufacturing Overhead 8,300 13,800 Applied Overhead 11 900 Indirect Materials Indirect Labor Factory Depreciation Factory Rent Factory Utilities Other Factory Costs Actual Overhead 6.200 2,000 9,100 51,300 Selling. General, and Administrative Expenses Adm. Salanes 27 800 Office Depreciation 19.000 Advertising 13,900 Ending Balance 60,700 to search o 67F 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 underapp 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 Compute over- or underapplied overhead. Manufacturing 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 Adjusted Cost of Goods Sold FF Drow 7 of 7 Next 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 underapplie 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 5 Prepare a brief income statement for the company. DOBSON MANUFACTURING COMPANY Income Statement Net Income from Operations
