Blue Plate Construction organized in December and recorded the following transactions during its first month of operations. Dec. 2 Purchased materials on account for $400,000. Dec. 3 Used direct materials costing $100,000 on job no. 100 . Dec. 9 Used direct materials costing $150,000 on job no. 101 . Dec. 15 Used direct materials costing $30,000 on job no. 102. Dec. 28 Applied the following direct labor costs to jobs: job no. 100, $9,000; job no. 101 , $11,000; job no. 102,$5,000. Dec. 28 Applied manufacturing overhead to all jobs at a rate of 300% of direct labor dollars. Dec. 29 Completed and transferred job no. 100 and job no. 101 to the finished goods warehouse. Dec. 30 Sold job no. 100 on account for $200,000. Dec. 31 Recorded and paid actual December manufacturing overhead costs of $78,000, cash. Dec. 31 Closed the Manufacturing Overhead account directly to Cost of Goods Sold. a. Record each of these transactions as illustrated in the Job Order Costing section. b. Compute the amount at which Cost of Goods Sold is reported in the company's income statement for the month ended December 31 . c. Determine the inventory balances reported in the company's balance sheet dated December 31 , d. Was manufacturing overhead in December overapplied, or was it underapplied? Explain