3 ndemic Calendar My MCBS Library English (en) Royal Printers, a printing company, has provided the following data for the month of August. Work in Process Inventory - Opening Balance Work in Process - Ending Balance Direct materials incurred during the month $15,000 $30,000 : $60,000 Direct Labor Hours :2,500 labor hours Direct Labor costincurred : $40,000 Predetermined Overhead Rate (to apply for work in Process) labor hour :$15 per Manufacturing Overhead cost incurred during the month :$40,000 You are required to calculate 1. Cost of goods Manufactured 2. Identity whether the Manufacturing Overhead is underapplied or over applied 3. How would adjust the overapplied/underapplied overhead in the cost of goods manufactured account O