Blasi Corporation is a manufacturer that uses job-order costing. The company closes out any overapplied or underapplied overhead to Cost of Goods Sold at the end of the year. The company has supplied the following data for the just completed year: $540,000 Estimated total manufacturing overhead at the beginning of the year Estimated direct labor-hours at the beginning of the year 40,000 direct labor-hours $462.000 $567,000 39,000 direct labor-hours Results of operations: Raw materials (all direct) requisitioned for use in production Direct labor cost Actual direct labor-hours Manufacturing overhead: Indirect labor cost Other manufacturing overhead costs incurred Selling and administrative: Selling and administrative salaries Other selling and administrative expenses Cost of goods manufactured Sales revenue Cost of goods sold (unadjusted) $121,000 $451,000 $263,000 $299,000 $1,371,000 $3.298,000 $1,302,000 Required: a. What is the total manufacturing cost added to Work in Process during the year? b. What is the addition to Finished Goods during the year? c. Is manufacturing overhead overapplied or underapplied for the year? By how much? Record the journal entry to adjust cost of goods sold. How does the adjustment of under- or over-applied MOH affect net income