please answer

a) Prepare schedules of cost of goods manufactured and cost of goods sold and an income statement

b)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 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 $8,400 of direct materials.

a)

b)

Superior Company provided the following data for the year ended December 31 (all raw materials are used In production as direct materlals): Inventory balances at the beginning and end of the year were as follows: The total manufacturing costs added to production for the year were $685,000; the cost of goods avallable for sale totaled $745,00 the unadjusted cost of goods sold totaled $668,000; and the net operating income was $31,000. The company's underapplied or overapplied overhead is closed to Cost of Goods Sold. Required: Prepare schedules of cost of goods manufactured and cost of goods sold and an Income statement. (Hint: Prepare the Income statement and schedule of cost of goods sold first followed by the schedule of cost of goods manufactured.) Complete this question by entering your answers in the tabs below. Prepare an income statement for the year. Gitano Products operates ajoo-order costing system and appies overnead cost to joos on the Dasis or direct materlais used in production (not on the basis of raw materlals purchased). Its predetermined overhead rate was based on a cost formula that estimated $128,800 of manufacturing overhead for an estimated allocation base of $92,000 direct materlal dollars to be used in production. The company has provided the following data for the just completed year: 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 materlals are used in production as direct materlals. 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 $8,400 of direct materials. Given this assumption, supply the information missing below: Complete this question by entering your answers in the tabs below. Compute the predetermined overhead rate for the year