5. Maggie Manufacturing Company applies manufacturing overhead to jobs using a predetermined overhead rate of 75% of direct labor cost. Any underapplied or overa pplied overhead is closed to Cost of Goods Sold at the end of the month. During August, the following transactions were recorded by the company: Raw materials (all direct materials) Purchased during the month.." Used in production Direct labor-hoiars w ork-ci di.ilrir'iE t htt month ''..a. Direct labor costs incurred. .. $30,000 534, 100 Labor: 4,000 $32,000 $8,000 Indirect labor costs incurred Manufacturing overhead costs incurred (total).. Inventories: $10,000 $8,400 18,000 Work in process, Augus Required: Determine the following a. The August 1 balance of Raw Materials b. The amount of manufacturing overhead applied to jobs in August c. The Cost of Goods Manufactured for August d. The overapplied or underapplied manufacturing overhead for the month. Label this amount appropriately