Saved Help Save & Exit Submit Check my work 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 $113,100 of manufacturing overhead for an estimated allocation base of $87,000 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 139,000 83,000 Manufacturing overhead costs: Indirect labor Property taxes Depreciation of equipment Maintenance $ 116,500 8,400 17,000 S 15,000 9,100 35,000 es Insurance Rent, building Beginning $ 28,000 $ 16,000 $ 45,000 $ 40,000 $ 69,000 $ 55,000 Ending Raw Materials Work in Process Finished Goods 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 $40,000 ending balance in Work in Process inc $8,500 of direct materials. Given this assumption, supply the es Prev 1 of 1 Next 14 Save & Exit Help Submit 3-14 i Saved Check my work 4,UUU WOIK I1 FLOcess 4U,UUu $ 69,000 $ 55,000 Finished Goods 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 $40,000 ending balance in Work in Process includes $8,500 of direct materials. Given this assumption, supply the information missing below: Complete this question by entering your answers in the tabs below ces Required 1 Required 2 Required 3 Required 4 Required 5 Compute the predetermined overhead rate for the year. Predetermined overhead rate % Required 1 Require Prev 1 of 1 Next Check my work WOLK I1 PLOCE5S 4,UUu U,UUu Finished Goods $69,000 $ 55,000 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 $40,000 end ing balance in Work in Process includes $8,500 of direct materials. Given this assumption, supply the information missing below: Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Compute the amount of underapplied or overapplied overhead for the year. overhead Required Require Prev 1 of 1 Next Check my work Required 1 Required 2 Required 3 Required 4 Required 5 Prepare a schedule of cost of goods manufactured for the year. Assume all r materiais. Gitano Products Schedule of Cost of Goods Manufactured Direct materials: Total raw materials available Raw materials used in production ces Total manufacturing costs Cost of goods manufactured Required 2 Require Prev 1 of 1 Next Check my work equired 4 Required 5 ured for the year. Assume all raw materials are used in production as direct Manufactured equired 2 Required 4 P Prev 1 of 1 Next Save & Exit Help Submit Saved Check my work Raw Materials Work in Process 28,000 $ 16,000 $ 45,000 $ 40,000 $ 69,000 $ 55,000 Finished Goods 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 overapplied overhead in your answer. 5. Assume that the $40,000 ending balance in Work in Process includes $8,500 of direct materials. Given this assumption, supply the information missing below: or Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Compute the unadjusted cost of goods sold for the year. Do not include any underapplied or overapplied dv answer. Unadjusted cost of goods sold Required 3 Required 5 Prev 1 of 1 Next MacBook Pro G Search or type URL Saved Help Save & Exit Subn Check my work taw Materials Rork in Process Finished Goods $ 28,000 $ 16,000 $ 45,000 $ 40,000 69,000 55,000 aquired: Compute the predetermined overhead rate for the year. .Compute the amount of underapplied or overapplied overhead for the year. . Prepare a schedule of cost of goods manufactured for the year. Assume all raw materials are used production as direct materials. . 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 $40,000 ending balance in Work in Process includes $8,500 of direct materials. Given this assumption, supply the information missing below: Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Assume that the $40,000 ending balance in Work in Process includes $8,500 of direct materials. Given this supply the information missing below: Direct materials Direct labor Manufacturing overhead Work in process inventory Required 4 Required Prev 1 of 1 Next MacRookk Pro G Search or type URL