2- The accounting records of Ford Company contained the following information for last year: Direct materials inventory Beginning $9,000 Ending $7,000 Work in process inventory $17,000 $31,000 Finished goods inventory $10,000 $15,000 Direct materials used $72,000 Direct labor cost (5,000 direct labor hours). $80,000 Factory Depreciation ..$10,000 Factory Rent .$12,000 Factory Taxes .$8,000 $6,000 Indirect materials. Indirect labor... $4,000 The company applies overhead to jobs using a predetermined overhead rate based on direct labor hours. At the beginning of the year, the company estimated that it would work 41,000 direct labor hours and incur $410,000 in manufacturing overhead cost. a- The amount of direct material purchased during the year was: A) $66,000 B) $70,000 C) $65,000 D) $74,000 b- Prepare cost of goods manufactured schedule in a good form c- Was the overhead under- or overapplied? By how much? Record the adjusting journal entry