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 Row materials Work in process Finished Goods Beginning Balance $ 14,850 $ 27,850 $ 62,850 Ending Balance $ 22,850 $ 9,850 $ 77,850 The company applies overhead to jobs using a predetermined overhead rate based on machine hours. At the beginning of the year, the company estimated that it would work 33,850 machine-hours and incur $294.495 in manufacturing overhead cost. The following transactions were recorded for the year: Raw materials were purchased. $315,850 Raw materials were requisitioned for use in production, $307,850 ($280,150 direct and $27700 indirect) . The following employee costs were incurred direct labor, $377,850; indirect labor, 596,850; and administrative salaries, 5172,850 Selling costs, $147,850 Factory utility costs, $10.850 Depreciation for the year was $178,000 of which $171000 is related to factory operations and $7,000 is related to selling, general, and administrative activities. Manufacturing overhead was applied to jobs. The actual level of activity for the year was 34,170 machine-hours. Sales for the year totaled $1,315,000. . Required: a. Prepare a schedule of cost of goods manufactured h Wae the warhertinerannier or nueranno? Ruhnu mur Required A Required B Required Prepare a schedule of cost of goods manufactured. Baab Corporation Schedule of Cost of Goods Manufactured Direct materials Total raw materials available Total Raw materials used in production Direct materials used in production Total manufacturing costs added to production Total manufacturing costs to account for Cost of goods manufactured c. Prepare an income statement for the year. mpany dry Complete this question by entering your answers in the table below. Required A Required B Required C was the overhead underapplied or overapplied? By how much? c. Prepare an income statement for the year. The company closes any underapplied or overapplied Complete this question by entering your answers in the table below. Required A Required B Required c Prepare an income statement for the year. The company closes any underapplied or overapplied overhe Sold. Baab Corporation Income Statement Selling and administrative expenses