4 Highview Corp. applies manufacturing overhead to production at 110% of direct labor cost. During the year ended 20x8, manufacturing overhead of $87,780 was applied to production; actual manufacturing overhead was $110,100. Beginning Work in Process Inventory was $13,100 and beginning Finished Goods Inventory was $35,400. Work in Process Inventory increased by 25% during the year and Finished Goods Inventory decreased by 10% during the year. Sales for the year ended 20xx were $450,600, yielding a $128,100 gross profit. 8 00:58:14 Complete the following schedule: Item Amount Direct Materials used in Production Ask Direct Labor 96,558 96,558 Manufacturing Overhead Applied Current Manufacturing Costs Beginning Work in Process Inventory Ending Work in Process Inventory Cost of Goods Manufactured 13,100 (35,400) 35,400 Beginning Finished Goods Inventory Ending Finished Goods Inventory Unadjusted Cost of Goods Sold Overhead Adjustment Adjusted Cost of Goods Sold 322,500