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basis of raw materials purchased). Its predetermined overhead rate is based on a cost formula...

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Accounting

basis of raw materials purchased). Its predetermined overhead rate is based on a cost formula that estimated $117,600 of
manufacturing overhead for an estimated allocation base of $84,000 direct material dollars to be used in production. The company
provided the following data for the just completed year:
Required:
Compute the predetermined overhead rate.
Compute the amount of underapplied or overapplied overhead.
Prepare a schedule of cost of goods manufactured. Assume all raw materials are used in production as direct materials.
Compute the unadjusted cost of goods sold. Do not include any underapplied or overapplied overhead in your answer.
Assume the $36,000 ending balance in Work in Process includes $8,500 of direct materials. Given this assumption, supply the
information missing below:
Complete this question by entering your answers in the tabs below.
Required 2
Compute the predetermined overhead rate.
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