Problem 3-14 (Algo) Schedule of Cost of Goods Manufactured; Overhead Analysis [LO3-3, LO3-4]

Gitano Products uses job-order costing and applies overhead cost to jobs based on direct materials used in production (not on the basis of raw materials purchased). Its predetermined overhead rate is based on a cost formula that estimated $114,400 of manufacturing overhead for an estimated allocation base of $88,000 direct material dollars to be used in production. The company provided the following data for the just completed year:

Purchase of raw materials$ 140,000Direct labor cost$ 84,000Manufacturing overhead costs:Indirect labor$ 112,800Property taxes$ 8,200Depreciation of equipment$ 18,000Maintenance$ 11,000Insurance$ 10,300Rent, building$ 37,000BeginningEndingRaw Materials$ 23,000$ 15,000Work in Process$ 49,000$ 38,000Finished Goods$ 70,000$ 57,000

Required:

Prepare a schedule of cost of goods manufactured. Assume all raw materials are used in production as direct materials.

whats missing?

Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare a schedule of cost of goods manufactured. Assume all raw materials are used in productior