4.21 (LO 6) Disposition of under- and overapplied overhead Revisit Exercise 4.14 about Drew Corp. If you have not already completed that exercise, do so before answering the following questions.

Required

1. Calculate under- or overapplied overhead for the year.
2. Assuming that Drew closes under- or overapplied overhead to Cost of Goods Sold, calculate the cost of goods sold for the year.
3. Assuming that Drew prorates under- or overapplied overhead to the appropriate accounts, calculate the adjusted Work in Process Inventory, Finished Goods Inventory, and Cost of Goods Sold balances for the year. Round percentages to 3 decimal places and dollars to whole dollars.