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 $$118,300$ of manufacturing overhead for an estimated allocation base of $$91,000$ direct material dollars to be used in production.

The company has provided the following data for the just completed year: Purchase of raw materials$ $138,000$Direct labor cost$ $87,000$Manufacturing overhead costs: Indirect labor$ $109,100$Property taxes$ $8,300$Depreciation of equipment$ $17,000$Maintenance$ $11,000$Insurance$ $10,800$Rent, building$ $40,000$ BeginningEndingRaw Materials$ $20,000$$ $10,000$Work in Process$ $46,000$$ $37,000$Finished Goods$ $74,000$$ $59,000$

Required:$1.$ Compute the predetermined overhead rate for the year$\mathrm{.}2.$ Compute the amount of underapplied or overapplied overhead for the year$\mathrm{.}3.$ Prepare a schedule of cost of goods manufactured for the year. Assume all raw materials are used in production as direct materials$\mathrm{.}4.$ Compute the unadjusted cost of goods sold for the year. Do not include any underapplied or overapplied overhead in your answer$\mathrm{.}5.$ Assume that the $$37,000$ ending balance in Work in Process includes $$8,900$ of direct materials. Given this assumption, supply the information missing below: