Bakerston Company 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 Work in process Finished goods Beginning Balance $ 11,700 $ 32,500 Ending Balance $ 15,400 $ 15,000 $ 103,000 $121,000 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 17,200 machine-hours and incur $258,000 in manufacturing overhead cost. The following transactions were recorded for the year: Raw materials were purchased, $410,000. Raw materials were requisitioned for use in production, $406,300 ($382,000 direct and $24,300 indirect). The following employee costs were incurred: direct labor, $335.000; indirect labor. $71,000; and administrative salaries, $159,000. Selling costs, $111,000. Factory utility costs, $28,000. Depreciation for the year was $121,000 of which $112,000 is related to factory operations and $9,000 is related to selling, general, and administrative activities. Manufacturing overhead was applied to jobs. The actual level of activity for the year was 14,600 machine-hours. Sales for the year totaled $1,286,000. Required: a.Prepare a schedule of cost of goods manufactured in good form. (Do not round predetermined overhead rate. Input all amounts as positive values. Omit the "$" sign in your response.) Schedule of Cost of Goods Manufactured Direct materials: (Click to select) ((Click to sel : (Click to select) Total raw materials available (Click to sel : (Click to select) Raw materials used in production ((Click to sel : (Click to select) (Click to select) (Click to select) Total manufacturing cost (Click to sel : (Click to select) ((Click to sel 4: (Click to select) Cost of goods manufactured b.Was the overhead underapplied or overapplied? By how much? (Do not round predetermined overhead rate. Input the amount as a positive value. Omit the "$" sign in your response.) Manufacturing overhead (Click to select) c.Prepare an income statement for the year. The company closes any underapplied or overapplied overhead to Cost of Goods Sold. (Input all amounts as positive values. Omit the "$" sign in your response.) Income Statement (Click to select) (Click to select) ((Click to select) Selling and administrative expenses: ((Click to select) (Click to select) (Click to select) (Click to select)