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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 $136,500 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 Direct labor cont $ 138,000 $87,000 Manufacturing overhead costar 5 Indirect labor $ 146,400 Property taxes $ 8,900 Depreciation of equipment $ 17,000 Maintenance $ 13,000 Insurance $ 7,400 Rent, building $ 37,000 Beginning Raw Materials $ 25,000 Ending $13,000 Work in Process $ 44,000 $36,000 Finished Goods $ 72,000 $ 57,000 Required: 1. Compute the predetermined overhead rate for the year. 2. Compute the amount of underapplied 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 $36,000 ending balance in Work in Process includes $8,100 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 Compute the amount of underapplied or overapplied overhead for the year. Underapplied Overhead Required 1 Required ts Priet Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Prepare a schedule of cost of goods manufactured for the year. Assume all raw materials are used in production as dire materials. Gitano Products Schedule of Cost of Goods Manufactured Direct materials: 0 Total raw materials available Direct materials used in production Total manufacturing costs added to production Total manufacturing costs to account for Cost of goods manufactured Property taxes Depreciation of equipment. Maintenance Insurance Rent, building $ 8,900 $ 17,000 $ 13,000 $ 7,400 $ 37,000 Raw Materials Beginning $ 25,000 $ 44,000 Ending $ 13,000 $36,000 Work in Process Finished Goods $72,000 $ 57,000 Required: 1. Compute the predetermined overhead rate for the year. 2. Compute the amount of underapplied or overapplied overhead for the year. int 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 $36,000 ending balance in Work in Process includes $8,100 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 Compute the unadjusted cost of goods sold for the year. Do not include any underapplied or overapplied overhead in your answer. Unadusted cost of goods sold Required: 1. Compute the predetermined overhead rate for the year. 2. Compute the amount of underapplied 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 underapplier overapplied overhead in your answer. 5. Assume that the $36,000 ending balance in Work in Process includes $8,100 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 Assume that the $36,000 ending balance in Work in Process includes $8,100 of direct materials. Given this assumption, supply the information missing below: Dire t materials $ 8,100 Direct labor Manufacturing overhead Work in process inventory $ 36.000