2. The bookkeeper of Galactica Ltd., a small manufacturer, has resigned suddenly The president of the company has requested your assistance, having just found out you are taking a management accounting class. The president's secretary, trying to be helpful, has alphabetized the list of items concerning operations ended September 30, 2022 Depreciation - factory building 2.200 Depreciation - manufacturing equipment 5,800 Depreciation-sales office equipment 3,600 Direct labour 55.500 Finished goods Inventory, beginning 12.000 Indirect labour 3.200 Indirect materials used 1,000 Insurance -sales autos 3,000 Property taxes.factory 4,300 Purchases of raw materials 50100 Raw materials Inventory, beginning 1,800 Raw materials inventory, ending 2,600 Rent - warehouse for storing finished goods 5,000 Repairs and maintenance - factory 1,900 Sales commissions 28.500 Training costs, new sales manager 1800 Uulities-factory Como Unes-sales office Wages-billing clerks in les office Work-in-process inventory, beginning Work-in-process inventory ending 2.750 1,700 4,200 5.100 Raw materials inventory includes both direct and indirect raw material Galactica uses a predetermined overhead rate to allocate manufacturing overhead. At the beginning of the year, the estimated total manufacturing overhead was $24,000 The allocation base for applying manufacturing overhead is machine hours Machine hours for the year were estimated as 10,000. Achual machine hour und ware 3.000. Required: Using either a schedule of cost of goods manufactured, or Taccount whichever method you prefer a) Determine the cost of the direct materials transferred to production during the year. b) Determine the cost of goods manufactured during the period c) Has manufacturing overhead been over or underapplied? Prepare the journal entry to dispose of this amount. d) No amount is available for ending inventory. The mountant had noted the cost of goods sold was $125,000. What is the cost of ending Inventory 5 7 2