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SOLVED: Text: Production not on the basis of raw materials purchased Its predetermined overhead rate was based on a cost formula that estimated 130,200 of manufacturing overhead for an estimated allocation base of93,000 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 cost Manufacturing overhead costs: Indirect labor Property taxes Depreciation of equipment Maintenance Insurance Rent, building133,00089,000119,3008,100 18,00016,000 7,80040,000Beginning Ending 29,00015,000 50,00037,000 69,00057,000Raw Materials Work in Process Finished GoodsRequired: 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 37,000 ending balance in Work in Process includes8,600 of direct materials. Given this assumption, supply the missing information below:
17 Febbraio 2023
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