Question: Need help with 1-5. Ch 3 Homework Saved Help Sove 3 Gitano Products operates a job-order costing system and applies overhead cost to Jobs on

Need help with 1-5.

Need help with 1-5. Ch 3 Homework Saved Help Sove 3 Gitano

Ch 3 Homework Saved Help Sove 3 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 $120,400 of manufacturing overhead for an estimated allocation base of $86,000 direct material dollars to be used in production. The company has provided the following data for the just completed year: 5 points Purchase of raw materials Direct labor cost $137,000 $ 82,000 Manufacturing overhead costs: Indirect labor Property taxes Depreciation of equipment $123,600 8,500 18,000 16,000 $ 7,900 $ 37,000 eBook Maintenance Print Insurance Rent, building References Beginning Ending $ 26,000 $15,000 $ 44,000 $ 39,000 $ 72,000 Raw Materials Work in Process 58,000 Finished Goods Required: 1. Compute the predetermined overhead rate for the year 2. Compute the amount of underapplled or overapplied 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 $39,000 ending balance in Work in Process includes $8,700 of direct materials. Given 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

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