Calculate and dispose of overapplied or underapplied manufacturing overhead. Note: Use cell A2 to A23 from the given Information to complete this question. Overhead: 2 Actual overhead cost Predetermined overhead rate Actual direct labor hours Total overhead applied (Over) or under applied overhead Calculate the cost of goods manufactured and cost of goods sold. Note: Use cell A2 to A23 from the given Information to complete this question. Enter all ending inventory amounts as negative numbers. Stanford Enterprises Cost of Goods Manufactured Report Raw materials used in production Direct labor materials Beginning raw materials inventory s 15,000 Plus: Raw materials purchased Less: Ending raw materials (11,375) 378.625 536.300 305.360 1,220,285 27.875 (22.350) 1.225.810 Manufacturing overhead applied Total current manufacturing costs Plus: Beginning work in process inventory Less: Ending work in process inventory Cost of goods manufactured Prepare an income statement for a manufacturing firm. Note: Use cell A2 to A23 from the given information to complete this question. Enter all ending inventory amounts as negative numbers. Sales revenue Stanford Enterprises Income Statement Less: Cost of Goods Sold Finished goods inventory, beginning Plus: Cost of goods manufactured Less: Facing finished goods inventory Unadjusted cost of goods sold Underapplied foverapplied) overhead Adjusted cost of goods sold Gross Profit $ 1,500,000