A company's inventory balances were as follows at the beginning and end of the year Beginning Balance Ending 000 DN22.000 Work in process 2000 000 Finished goods 62.000 77000 Overhead costs relled to be based on the house of your eyes at would work 33.000 machine hours and incur 231,000 manat oveted cost. The following con recorded for the year Raw materials were purchased, 315.000 Raw materials were redes production 107.000 81000 Grect 25,000 The following only costs were curred direct box. 000, Wrector D.000 de 72.000 Selling costs, 147.000 Factory couts, 10.000 Depreciation for the years 127,000 of which oh 20,000 is related to factory operations and 12.000 stated is gerers, and administrative activities Manufacturing overhead was led to jobs. The actual level of activity for the year was 34.000 machine-hours Sales for the year to ed ON 25000 Required Prepare a schedule of cost of good manufactured. (4 marks Wat the overhead underapplied or overilled By how muchas A company's inventory balances were as follows at the beginning and end of the year: Beginning Balance Erding Balance Raw materials Dh14,000 Dh22.000 Work in process Dh27,000 Dng,000 Finished goods Dh62,000 Dh77,000 Overhead costs are applied to jobs based on machine-hours. At the beginning of the year, the company estimated that it would work 33,000 machine-hours and incur Dh231,000 in manufacturing overhead cost. The following transactions were recorded for the year Raw materials were purchased, 0315.000 Raw materials were requisitioned for use in production, Dh307,000 (DH281.000 direct and Dh26,000 indirect). The following employee costs were incurred direct labor, Dh377,000; Indirect labor, Dh96,000; and administrative salaries, DW172,000, Selling costs, Dh147,000 Factory Utility costs, DM10,000 Depreciation for the year was Dh127,000 of which Dh120,000 is related to factory operations and Dh7,000 is related to selling, general, and administrative activities Manufacturing overhead was applied to jobs. The actual level of activity for the year was 34,000 machine-hours, Sales for the year totaled h1,253,000 Required: a. Prepare a schedule of cost of goods manufactured. (4 marks) b. Was the overhead underapplied or overapplied? By how much? (1 mark)