113. Bakerston Company is n manufacturing firm that uses job order costing. The company's inventory balances were as follows at the beginning and end of the year: Raw materials Work in process Finished goods Beginning Balance $14,000 27,000 62,000 Ending Balance $22,000 9,000 77,000 The company applies overhead to jobs using a predetermined overhead rate based on machine bours. At the beginning of the year, the company estimated that it would work 33.000 machine-hours and incur S231.000 in manufacturing overhead cost. The following transactions were recorded for the year: Raw materials were purchased. 5315,000, Raw materials were requisitioned for use in production, $307.000 ($281.000 direct and $26.000 indirect). The following employee costs were incurred direct fatour, $377.0040: indirect labour, $96,000, and administrative salaries, S172.000, Selling costs $147.000 Factory utility costs, $10,000. Idepreciation for the year was $122.000 of which S120.000 is related to factory oupagrations und $7.000 is related to selling and administrative activities, Manufacturing overhead was applied to jobs. The actual level of activity for the year was 34.000 machine-hours Sales for the year totalted 1.153,000 Required u. Prepare a schedule of cost of goods manufactured in good form b. Was the verhead underapplied or overapplied md by how much! Prepare an income statement for the vent in Bad for