Dobson Manufacturing Company uses a job order cost system with manufacturing overhead applied to products on...

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Dobson Manufacturing Company uses a job order cost system with manufacturing overhead applied to products on the basis of direct labor dollars. At the beginning of the most recent period, the company estimated its total direct labor cost to be $57,900 and its total manufacturing overhead cost to be $104,220. Several incomplete general ledger accounts show the transactions that occurred during the most recent accounting period which is given in second requirement. Required: 1. Calculate the predetermined overhead rate. 2. Fill in the missing values in the T-accounts. 3. Compute over- or underapplied overhead. 4. Prepare a statement of cost of goods manufactured and sold including the adjustment for over- or underapplied overhead. 5. Prepare a brief income statement for the company. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Calculate the predetermined overhead rate. Predetermined Overhead Rate % of Direct Labor Cost Required 1 Required 2 Required 3 Required 4 Required 5 Fill in the missing values in the T-accounts. Raw Materials Inventory Work in Process Inventory Beginning Balance 13,300 Beginning Balance 28,900 Purchases 94,600 Direct Materials 68,900 Ending Balance 29,600 Direct Labor 40,500 Applied Overhead Ending Balance 20,000 Finished Goods Inventory Cost of Goods Sold Beginning Balance 41,400 Unadjusted Cost of Goods Sold Cost of Goods Completed Adjusted Cost of Goods Sold Ending Balance 48,300 Sales Revenue Manufacturing Overhead 305,000 Indirect Materials 9.400 Applied Overhead Indirect Labor 14,000 Factory Depreciation 11,000 Factory Rent 5,400 Factory Utilities 2,300 Other Factory Costs 9.400 Actual Overhead 51,500 Selling, General, and Administrative Expenses Adm. Salaries 27,400 Office Depreciation 19,600 Advertising 13,100 Ending Balance 60,100 Required 1 Required 2 Required 3 Required 4 Required 5 Compute over- or underapplied overhead. Manufacturing Overhead Required 1 Required 2 Required 3 Required 4 Requ Prepare a statement of cost of goods manufactured and sold inc DOBSON MANUFACTURING COMPANY Cost of Goods Manufactured and Sold Report Direct Materials Used in Production Total Current Manufacturing Costs Total Work in Process Cost of Goods Manufactured Cost of Goods Available for Sale Unadjusted Cost of Goods Sold Adjusted Cost of Goods Sold Required 1 Required 2 Required 3 Required 4 Required 5 Prepare a brief income statement for the company. DOBSON MANUFACTURING COMPANY Income Statement Net Income from Operations Dobson Manufacturing Company uses a job order cost system with manufacturing overhead applied to products on the basis of direct labor dollars. At the beginning of the most recent period, the company estimated its total direct labor cost to be $57,900 and its total manufacturing overhead cost to be $104,220. Several incomplete general ledger accounts show the transactions that occurred during the most recent accounting period which is given in second requirement. Required: 1. Calculate the predetermined overhead rate. 2. Fill in the missing values in the T-accounts. 3. Compute over- or underapplied overhead. 4. Prepare a statement of cost of goods manufactured and sold including the adjustment for over- or underapplied overhead. 5. Prepare a brief income statement for the company. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Calculate the predetermined overhead rate. Predetermined Overhead Rate % of Direct Labor Cost Required 1 Required 2 Required 3 Required 4 Required 5 Fill in the missing values in the T-accounts. Raw Materials Inventory Work in Process Inventory Beginning Balance 13,300 Beginning Balance 28,900 Purchases 94,600 Direct Materials 68,900 Ending Balance 29,600 Direct Labor 40,500 Applied Overhead Ending Balance 20,000 Finished Goods Inventory Cost of Goods Sold Beginning Balance 41,400 Unadjusted Cost of Goods Sold Cost of Goods Completed Adjusted Cost of Goods Sold Ending Balance 48,300 Sales Revenue Manufacturing Overhead 305,000 Indirect Materials 9.400 Applied Overhead Indirect Labor 14,000 Factory Depreciation 11,000 Factory Rent 5,400 Factory Utilities 2,300 Other Factory Costs 9.400 Actual Overhead 51,500 Selling, General, and Administrative Expenses Adm. Salaries 27,400 Office Depreciation 19,600 Advertising 13,100 Ending Balance 60,100 Required 1 Required 2 Required 3 Required 4 Required 5 Compute over- or underapplied overhead. Manufacturing Overhead Required 1 Required 2 Required 3 Required 4 Requ Prepare a statement of cost of goods manufactured and sold inc DOBSON MANUFACTURING COMPANY Cost of Goods Manufactured and Sold Report Direct Materials Used in Production Total Current Manufacturing Costs Total Work in Process Cost of Goods Manufactured Cost of Goods Available for Sale Unadjusted Cost of Goods Sold Adjusted Cost of Goods Sold Required 1 Required 2 Required 3 Required 4 Required 5 Prepare a brief income statement for the company. DOBSON MANUFACTURING COMPANY Income Statement Net Income from Operations

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1 Predetermined Overhead Rate 180 of Direct Labor Cost Predetermined overhead rate 10422057900 18000 ... View the full answer