Hacken Company has a job-order costing system. The company applies manufacturi

Hacken Company has a job-order costing system. The company applies manufacturing overhead to jobs using a predetermined overhead rate based on direct
labor cost. The information below has been taken from the cost records of Hacken Company for the past year:

Direct materials used in production

$1250

Total manufacturing costs charged to production during the year (includes direct materials direct labor and applied factory overhead)

$6050

Manufacturing overhead applied

$2800

Selling and administrative expenses

$1000

Inventories:

Direct materials January 1

$130

Direct materials December 31

$80

Work in process January 1

$250

Work in process December 31

$400

Finished goods January 1

$300

Finished goods December 31

$200

Required:

a. Compute the cost of direct materials purchased during the year.

b. Compute the predetermined overhead rate that was used during the past year.

c. Compute the Cost of Goods Manufactured for the past year.

d. Compute the Cost of Goods Sold for the past year.