The following information is available for a custom manufacturer.

 The following information is available for a custom manufacturer.
 

Inventories         Costs incurred for the period    
Raw materials, beginning    $ 38,000    Raw materials purchases    $ 18,460
Work in process, beginning    12,400    Direct materials used    43,250
Finished goods, beginning    8,750    Direct labor used    22,800
Cost of goods manufactured    95,290    Factory overhead (actual)    
Cost of goods sold (not considering over- or underapplied overhead)    83,200    Indirect materials used    9,300
Sales    100,000    Indirect labor used    16,400
Predetermined overhead rate based on direct materials used    80%    Other overhead costs    4,300

1. Complete the T-accounts for each of the three inventory accounts using the data provided in the above table.

2. Compute overapplied or underapplied overhead.

 

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