12 The following selected data were taken from the records of the Fisher Foil Company. The company uses a job costing system to account for its manufacturing costs Fisher's fiscal year runs from January 1to December 31. manufacturing overhead is dosed out only at the end of the fiscal year. The following information relates to August operations (1) Jobs in process on August 014241 Job No. wa2 Materials 5 800 1,000 Labor $1,200 1,620 X13 Overhead ?? ?? ebook 12) Jobs completed during August: W12X12,414 Material requisitions and tabor time tickets indicated the following D Job No. waz X13 Y14 zas General use Material Requisitions $ 610 370 2,78e 4, ose 390 Time Tickets $ 750 1,42e 3,100 1,08e 540 12 (4) Jobs sold during August: W12, X13. (5) Fisher applies overhead to production based upon labor costs. (6) Selected account balances on August 1 were: bints 8 01:42:13 Overhead Materials Work in process Finished goods $1,400 overapplied 5,175 9,555 -- eBook References (7) Various overhead incurred (excluding indirect materials and indirect labor) during August. $13,500. (8) Materials (direct and Indirect) purchased during August, $10,905. Required: (a) What is the balance in the Materials Inventory account on August 31? (b) is the manufacturing overhead account over- or underapplied on August 31? By how much? (C) Compute the cost of goods manufactured for August (d) Compute the cost of goods sold for August. (e) What is the balance of the Work in Process Inventory account on August 31