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Do not enter any commas (except for the pre-determined OH rate) and round to the nearest dollar

Based on the data presented above, complete the following Table

1.

Pre-Determined OH Rate (round to 2 decimal places)

$

2. Direct Materials used in Production

$

3. Direct Labor

$377,950

Total Manufacturing Costs

$

4. Cost of Goods Manufactured

$

5. Adjusted Cost of Goods Sold

$

6. Total Selling and Admin Exp

$331,900

Operating Income

$

Baab Corporation is a manufacturing firm that uses job-order costing. The company's inventory balances were as follows at the beginning and end of the year: Beginning Ending Balance Balance Raw materials $ 14,950$ 22,950 Work in process $ 27,950 $ 9950 Finished Goods $ 62,950 $ 77,950 The company applies overhead to jobs using a predetermined overhead rate based on machine-hours. At the beginning of the year, the company estimated that it would work 33,950 machine-hours and incur $302,155 in manufacturing overhead cost. The following transactions were recorded for the year: Raw materials were purchased, $315,950. Raw materials were requisitioned for use in production, $307,950 ($280,050 direct and $27,900 indirect). The following employee costs were incurred: direct labor, $377,950; indirect labor, $96,950; and administrative salaries, $172,950. Selling costs, $147,950. Factory utility costs, $10,950. Depreciation for the year was $184,000 of which $173,000 is related to factory operations and $11,000 is related to selling, general, and administrative activities. Manufacturing overhead was applied to jobs. The actual level of activity for the year was 34,190 machine-hours. Sales for the year totaled $1,325,000

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