Coda Industries uses a job order cost system. On November $1,$ the company had the following balance in the accounts:

The following transactions occurred during November:

Purchased materials on account at a cost of $$270,500.$

Requisitioned materials at a cost of $$195,500,$ only $$180,000$ of which was traceable to specific jobs.

Recorded unpaid factory labor of $$267,000,80$ percent of which was direct.

Incurred other costs:

Selling expenses $ $65,300$

Factory utilities $68,300$

Administrative expenses $92,500$

Factory rent $125,000$

Factory depreciation $64,800$

Applied overhead during the month totaling $$290,000.$

Completed jobs costing $$607,250.$

Sold jobs costing $$557,700.$

Recorded sales revenue $($on account$)$ of $$850,000.$

Required:

$1.$ & $2.$ Post the November transactions to the T$-$accounts and compute the balance in the accounts at the end of November.

$3-$a$.$ Compute over$-$ or underapplied manufacturing overhead.

$3-$b$.$ If the balance in the Manufacturing Overhead account is closed directly to Cost of Goods Sold, will Cost of Goods Sold increase or decrease?

$4.$ Prepare Coda$$s cost of goods manufactured report for November.

$5.$ Prepare Coda$$s November income statement. Include any adjustment to Cost of Goods Sold needed to dispose of over$-$ or underapplied manufacturing overhead.