Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw materials $ 32,000 Indirect materials used in production $ 4,680 $ 59,300 Manufacturing overhead applied to work in process $ 88,200 Direct labor Underapplied overhead Inventories Raw materials Beginning Ending $ 11,100 $ 18,500 Work in process $ 54,700 $ 65,900 Finished goods $ 34,100 $ 43,500 $ 4,130 Required: 1. Prepare a schedule of cost of goods manufactured for the month. 2. Prepare a schedule of cost of goods sold for the month. Assume the underapplied or overapplied overhead is closed to Cost of Goods Sold. 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 $120,400 of manufacturing overhead for an estimated allocation base of $86,000 direct material dollars to be used in production. The company has provided the following data for the just completed year: Purchase of raw materials Direct labor cost Manufacturing overhead costs: Indirect labor Property taxes Depreciation of equipment Maintenance Insurance Rent, building Beginning $ 131,000 $ 82,000 $ 120,500 $ 8,800 $ 16,000 $ 14,000 $ 8,200 $ 32,000 Ending $13,000 Raw Materials $ 21,000 Work in Process $ 48,000 $ 36,000 Finished Goods $ 70,000 $ 58,000 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 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 $36,000 ending balance in Work in Process includes $8,600 of direct materials. Given this assumption, supply the information missing below