Baab Corporation is a manufacturing firm that uses job-order costing. The company's Inventory balances were as follows at the beginning and end of the year: Raw materials Beginning Balance $ 14,100 $ 27,100 $ 62,100 Ending Balance $ 22,100 $9,100 $ 77,100 Work in process Finished Goods " " " " The company applies overhead to jobs using a predetermined overhead rate based on machine-hours. At the beginning year, the company estimated that it would work 33,100 machine-hours and incur $238,320 in manufacturing overhead c following transactions were recorded for the year: Raw materials were purchased, $315,100. Raw materials were requisitioned for use in production, $307,100 ($280,900 direct and $26,200 indirect). The following employee costs were incurred: direct labor, $377,100; indirect labor, $96,100; and administrative salaries, Selling costs, $147,100. Factory utility costs, $10,100. Depreciation for the year was $133,000 of which $120,200 is related to factory operations and $12,800 is related to se general, and administrative activities. Manufacturing overhead was applied to jobs. The actual level of activity for the year was 34,020 machine-hours. Sales for the year totaled $1,257,000. Required: a. Prepare a schedule of cost of goods manufactured. b. Was the overhead underapplied or overapplied? By how much? I c. Prepare an income statement for the year. The company closes any underapplied or overapplied overhead to Cost of G- Complete this question by entering your answers in the table below. Required