A neighbour of yours approached you to assist him with calculating some manufacturing overheads for his business, as well as calculating the effect of any under- or over-recovery of manufacturing overheads. Your neighbour's business is called Cool Cooking Gadgets (Pty) Ltd. They manufacture gourmet braai utensils. The company makes use of a job costing system. Manufacturing overheads are applied (recovered) at a predetermined (budgeted) overhead rate of 150% of direct labour cost. Any overapplied (over-recovered) or underapplied (under- recovered) manufacturing overhead is closed off to cost of sales each month. The following information relates to work for the month of May 2022: - Job CCG22 consisting of stainless-steel braai tongs, was the only job still in progress at the end of April 2022, with accumulated costs as follows: Direct material R40 000 Direct labour 0 R20 000 R30 000 Allocated manufacturing overhead Total R90 000 -Jobs CCG67, CCG29 and CCG108 were all started during May. - Direct material requisitions during May totalled R260 000. - Direct labour costs of R200 000 were incurred during May. - Manufacturing overhead incurred during May totalled R320 000. - The only job still in progress on 31 May was job CCG108, with costs of R28 000 for direct material and R18 000 for direct labour. Required: 1. Calculate the cost of goods manufactured for the month of May 2022. 2. Calculate the amount of overapplied (over-recovered) or underapplied (under-recovered) manufacturing overhead to be closed off to cost of sales on 31 May 2022