Problem 3-14 (Algo) Schedule of Cost of Goods Manufactured; Overhead Analysis [LO3-3, LO3-4] 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 $129,000 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 $ 133,000 $82,000 $ 123,000 $ 8,100. $ 18,000 $ 12,000 Insurance $ 11,100 Rent, building $ 38,000 Beginning Ending Raw Materials $ 20,000 $ 15,000. Work in Process $ 45,000 $ 40,000 Finished Goods $ 74,000 $ 58,000