Dobson Manufacturing Company uses a job order cost system with manufacturing overhead applied to products on the basis of direct labor dollars. At the beginning of the most recent period, the company estimated its total direct labor cost to be $50,700 and its total manufacturing overhead cost to be $86,190 Several incomplete general ledger accounts showing the transactions that occurred during the most recent accounting period follow Required 1. Calculate the predetermined overhead rate. Predetermined Overhead Rate % of Direct Labor Cost 2. Fill in the missing values in the T-accounts Raw Materials Inventory Work in Process Inventory Beginning Balance Purchases Ending Balance 14,000 93,400 28,700 Beginning Balance Direct Materials Direct Labor Applied Overhead Ending Balance 28,500 68,100 S 40,800 19,900 Finished Goods Inventory Cost of Goods Sold Beginning Balance Cost of Goods Completed Ending Balance 40,700 Unadjusted Cost of Goods Sold Adjusted Cost of Goods Sold 48,900 Sales Revenue Manufacturing Overhead Indirect Materials Indirect Labor Factory Depreciation Factory Rent Factory Utilities Other Factory Costs Actual Overhead 306,000 10,600 14,300 12,900 5,300 2,100 9,200 54,400 Applied Overhead Selling, General, and Administrative Expenses Adm. Salaries Office Depreciation Advertising Ending Balance 27,500 19,200 13,700 60,400 . Compute over-or underapplied overhead. Manufacturing Overhead 4. Prepare a statement of cost of goods manufactured and sold including the adjustment for over- or underapplied overhead DOBSON MANUFACTURING COMPANY Cost of Goods Manufactured Report and Sold Direct Materials Used in Production Total Current Manufacturing Costs Total Work in Process 4. Prepare a statement of cost of goods manufactured and sold including the adjustment for over- or underapplied overhead DOBSON MANUFACTURING COMPANY Cost of Goods Manufactured Report and Sold Direct Materials Used in Production Total Current Manufacturing Costs Total Work in Process Cost of Goods Manufactured Cost of Goods Available for Sale Unadjusted Cost of Goods Solo Adjusted Cost of Goods Sold 5. Prepare a brief income statement for the company DOBSON MANUFACTURING COMPANY Income Statement Net Income from Operations