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studying for exam please help Gitano Products operates a job-order costing system and applies overhead cost to jobs on the basis of direct materials used

studying for exam please help
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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 $104,400 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 $ 135,000 Direct labor cost $ 83,000 Manufacturing overhead costs Indirect labor 5.925900 Property taxes $ 8,400 Depreciation of equipment $ 19,000 Maintenance $ 13,000 Insurance 5 10,700 Rent, building $ 35,000 Materials Work in Process Finished Goods Beginning $ 23,000 550,000 $ 60,000 Endine $ 22,000 $39.000 $ 55,000 Required: 1 Compute the predetermined overhead rate for the year 2. Compute the amount of underapplied or overopplied 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 539.000 ending balance in Work in Process includes $8.100 of direct materials Gven 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 predetermined overhead rate for the year. Predetermined overhead rate 120% Recue Required 2 > 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. Underapplied overhead 3,800 Prepare a schedule of cost of goods manufactured for the year. Assume all raw materials are used in production as direct materials. Gitano Products Schedule of Cost of Goods Manufactured Direct materials: Total raw materials available Direct materials used in production Total manufacturing costs added to production Total manufacturing costs to account for 0 Cost of goods manufactured Required 2 POD 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 overhead in your answer Unadjusted cost of goods sold Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Assume that the $39,000 ending balance in Work in Process includes $8,100 of direct materials. Given this assumption, supply the information missing below: Direct materials $ 8,100 Direct labor Manufacturing overhead Work in process inventory S 39,000

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