In June 2019, Metal Fab, Inc., had the following cost data:
COST DATA
a. Raw materials costing $100,000 were purchased.
b. Raw materials costing $80,000 were used: direct materials, $75,000; indirect materials, $5,000.
c. Factory wages of $90,000 were incurred: direct labor, $86,000; indirect labor, $4,000. Social security tax deductions were $5,580, Medicare tax deductions were $1,305, and income tax deductions were $13,500.
d. Other overhead costs amounting to $25,000 were incurred. (Credit Accounts Payable.)
e. Estimated manufacturing overhead costs were applied to jobs in production at the rate of 50 percent of direct labor costs.
f. Finished goods costing $200,000 were transferred to the warehouse.
g. Goods costing $165,000 were sold and billed to customers for $325,000.

INSTRUCTIONS
1. Prepare general journal entries to record each item of cost data given. Use the account titles in the textbook.
2. Compute the amount of overapplied or underapplied overhead for the month.
3. Prepare a partial income statement for the month of June. Adjust the cost of goods sold for any overapplied or underapplied overhead.
Analyze: What percentage of raw materials purchased during the month of June was used?