1 Koczela Incorporated has provided the following data for the month of May: Inventories: Work in process Finished goods Additional information: TL Direct materials Direct labor cost Saved Beginning Ending $29,000 $24,000 $58,000 $62,000 $69,000 $99,000 Manufacturing overhead cost incurred $75,000 Manufacturing overhead cost applied to Work in Process $73,000 Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold.

Koczela Incorporated has provided the following data for the month of May: Inventories: Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold