1 2 The following information is available for a custom manufacturer. 3 4 Inventories 5 Raw materials, beginning $38,000 6 Work in process, beginning 12,400 7 Finished goods, beginning 8,750 8 Cost of goods manufactured 95,290 Cost of goods sold (not considering over- 9 or underapplied overhead) 83,200 10 Sales 100,000 Predetermined overhead rate based on 11 direct materials used 80% 12 Costs incurred for the period 13 Raw materials purchases $18,460 14 Direct materials used 43,250 15 Direct labor used 22,800 17 18 6849 16 Factory overhead (actual) Indirect materials used 9,300 Indirect labor used 16,400 19 Other overhead costs 4,300 20 + Required: 1. Complete the T-accounts for each of the three inventory accounts using the data provided in the above table. (Use cells A4 to B19, as well as any yellow input cells, to complete this question.) Beginning B 9 0 Ending $1 Raw Materials Inventory 382 33 Beginning 34 35 36 37 Ending 38 39 40 Beginning 41 42 Ending 43 Work in Process Inventory Finished Goods Inventory 44 2. Compute overapplied or underapplied overhead. 45 46 (Use cells A4 to B19, as well as any yellow input cells, to complete this question.) 47 48 49 50 S