PROBLEM 3-6 Analyzing Overhead; Schedule of Cost of Goods Manufactured [LO3 - CC5; LO6 - CC13; LO7 - CC14] 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). In computing a predetermined overhead rate at the beginning of the year, the company's estimates were as follows: manufacturing overhead cost, $650,000; direct materials to be used in production, $500,000. The company's inventory accounts at the beginning and end of the year were as follows: Required: 1. a. Compute the predetermined overhead rate for the year. b. Compute the amount of under- or overapplied overhead for the year. 2. Prepare a schedule of cost of goods manufactured for the year. 3. Compute the cost of goods sold for the year. (Do not include any under- or overapplied overhead in your cost of goods sold figure.) 4. Job 215 was started and completed during the year. What price would have been charged to the customer if the job required $8,500 in direct materials and $2,700 in direct labour cost and the company priced its jobs at 40% above cost to manufacture? 5. Direct materials made up $48,000 of the $150,000 ending work-in-process inventory balance. Supply the information missing below