schedule of cost of good solddirect materialbeginning inventorypurchase of raw materialtotal raw materiaending raw materialdirect material used in productiondirect labormanufacturing overhead applied to work in processtotal manufacturing cost added to production

Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to -A 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 $106,800 of manufacturing overhead for an estimated allocation base of $89,000 direct material dollars to be used in production. The company has provided the following data for the just completed year: Purchase of raw materials $ 130, 090 Direct labor cost $ 85, 090 Manufacturing overhead costs: Indirect labor $ 96,600 Property taxes $ 8,900 Depreciation of equipment $, 17,000 Maintenance $ 14, 000 Insurance $ 11, 300 Rent, building $ 30,000 Beginning Ending Raw Materials $ 25,000 $ 11, 900 Work in Process $ 45,000 $ 35,060 Finished Goods $ 69,008 $ 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 $35,000 ending balance in Work in Process includes $8,700 of direct materials. Given this assumption, supply the