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 $52,200 and its total manufacturing overhead cost to be $78,300. 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. x Answer is not complete. 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 Direct Labor Cost Required 1 Required 2 > X Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Fill in the missing values in the T-accounts. Beginning Balance 80,300 Raw Materials Inventory 14,900 94,400 29,000 Beginning Balance Direct Materials Purchases Work in Process Inventory 29,000 224,000 69,700 41,600 103,200 X 1 19,500 Ending Balance Direct Labor Applied Overhead Ending Balance Finished Goods Inventory Beginning Balance 40,900 216,800 Cost of Goods Completed 224,000 Ending Balance 48,100 Unadjusted Cost of Goods Sold Adjusted Cost of Goods Sold Cost of Goods Sold 80,300 X 224,000 Sales Revenue 308,000 Applied Overhead Indirect Materials Indirect Labor Factory Depreciation Factory Rent Factory Utilities Other Factory Costs Actual Overhead Manufacturing Overhead 10,600 103,200 14,600 11,400 5,800 1,000 8,200 51,600 Selling, General, and Administrative Expenses Adm. Salaries 27,500 Office Depreciation 18,200 Advertising 15,000 Ending Balance 60,700 ( Required 1 Required 3 > X Answer is not complete. 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 Required 2 Required 4 > Answer is not complete. Complete this question by entering your answers in the tabs below. 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 le Cost of Goods Available for Sale Unadjusted Cost of Goods Sold Adjusted Cost of Goods Sold X Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 ad 2 Required 3 | Required 3 Required 4 required a Required Required 5 Prepare a brief income statement for the company. DOBSON MANUFACTURING COMPANY Income Statement Net Income from Operations Required 4 Required 5 )
