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Homework i Saved Help Save & Exit S Check my w Problem 3-14 Schedule of Cost of Goods Manufactured; Overhead Analysis (LO3-3, LO3-4) 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 $133,500 of manufacturing overhead for an estimated allocation base of $89,000 direct material dollars to be used in production. The company has provided the following data for the just completed year: $ 137,000 $ 85,000 Purchase of raw materials Direct labor cost Manufacturing overhead costs: Indirect labor Property taxes Depreciation of equipment Maintenance Insurance Rent, building $ 147,000 $ 8,500 $ 18,000 $ 12,000 $ 11,100 $ 33,000 Raw Materials Work in Process Finished Goods Beginning Ending $ 27,000 $ 13,000 $ 48,000 $ 39,000 $ 72,000 $ 61,000 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 $39,000 ending balance in Work in Process includes $8,500 of direct materials. Given this assumption, supply the information missing below: !!! Ana D 0 3 Hi Be Raw Materials Work in Process Finished Goods Beginning Ending $ 27,000 $ 13,000 $ 48,000 $ 39,000 $ 72,000 $ 61,000 Sok 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 4. Compute the unadjusted cost of goods sold for the year. Do not include any underapplied or overap 5. Assume that the $39,000 ending balance in Work in Process includes $8,500 of direct materials. Giv information missing below: nces Complete this question by entering your answers in the tabs below. Required 1 Required 2 | Required 3 Required 4 Required 5 Compute the predetermined overhead rate for the year. Predetermined overhead rate l%7 Required Required 2 > Rent, building $ 11, 100 $ 33,000 points Raw Materials Work in Process Finished Goods Beginning Ending $ 27,000 $ 13,000 $ 48,000 $ 39,000 $ 72,000 $ 61,000 eBook Print 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 4. Compute the unadjusted cost of goods sold for the year. Do not include any underapplied or overapplied over 5. Assume that the $39,000 ending balance in Work in Process includes $8,500 of direct materials. Given this ass information missing below: References 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. overhead Chapter 3: Homework Saved 5. Assume that the $39,000 ending balance in Work in Process includes $8,500 of direct materials. Given this assumption, supply information missing below: Complete this question by entering your answers in the tabs below. points 2 Required 1 Required 3 Required 4 Required 5 eBook Prepare a schedule of cost of goods manufactured for the year. Assume all raw materials are used in production as direct materials. Print Gitano Products Schedule of Cost of Goods Manufactured Direct materials: References Total raw materials available Raw materials used in production Total manufacturing costs 0 Cost of goods manufactured OLVOIR Saved Raw Materials Work in Process Finished Goods Beginning Ending $ 27,000 $ 13,000 $ 48,000 $ 39,000 $ 72,000 $ 61,000 01 points eBook lot" 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 materia 4. Compute the unadjusted cost of goods sold for the year. Do not include any underapplied or overapplied overhead in your answ 5. Assume that the $39,000 ending balance in Work in Process includes $8,500 of direct materials. Given this assumption, supply t information missing below: Print Complete this question by entering your answers wa the tabs below. eferences 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. Unadjusted cost of goods sold Raw Materials Work in Process Finished Goods Beginning Ending $ 27,000 $ 13,000 $ 48,000 $ 39,000 $ 72,000 $ 61,000 5 points eBook 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 di 4. Compute the unadjusted cost of goods sold for the year. Do not include any underapplied or overapplied overhead ir 5. Assume that the $39,000 ending balance in Work in Process includes $8,500 of direct materials. Given this assumpti information missing below: Print eferences Complete this question by entering your answers in the tabs below. Required 5 Required 1 Required 2 Required 3 Required 4 Required 5 Assume that the $39,000 ending balance in Work in Process includes $8,500 of direct materials. Given this assumption, supply the information missing below: Direct materials Direct labor Manufacturing overhead Work in process inventory $

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