TB Problem 2-126 (Algo) [LO 2-2, 2-3, 2-4, 2-5, 2-6] Curtis Incorporated uses a job order cost system. Manufacturing overhead is applied on the basis of direct labor cost. Total manufacturing overhead was estimated to be $37,550 for the year; direct labor was estimated to total $150,200. Additional information for the year is as follows: Beginning Inventory (1/1) Ending Inventory (12/31) Raw Materials Inventory $ 10,900 $ 13,600 Work in Process Inventory 22,800 18,900 Finished Goods Inventory 34,900 40,500 Raw materials purchases $ 108,000 Direct materials used 98,300 Direct labor 146,900 Indirect materials used 7,000 Indirect labor 16,200 Factory equipment depreciation 25,000 Factory rent 18,700 Factory utilities 9,000 Other factory costs 7,500 Required: Calculate the predetermined overhead rate. Calculate cost of goods manufactured. Calculate the over- or underapplied overhead. Calculate adjusted cost of goods sold