Stanford Enterprises has provided its manufacturing estimated and actual data for the year end. The Controller has asked you to compute the predetermined overhead rate, the schedule of cost of goods manufactured, and the schedule of cost of goods sold. Stanford Enterprises uses job-order costing. Overhead is applied on the basis of direct labor hours. The following information relates to the year just ended. Data: Estimated total overhead costs $275,000 Estimated total direct labor hours 25,000 Actualtotaldirectlaborhours27,760 Actual costs for the year: Purchase of raw (direct) materials $375,000 Direct labor cost $536,300 Manufacturing overhead $302,750 Inventories: Raw (Direct) Materials Work in Process 34,600 26,450 Required: 1. Compute the predetermined overhead rate. 2. Prepare a schedule of cost of goods manufactured. 3. Prepare a schedule of cost of goods sold