Cost of Goods Manufactured and Income Statement with Predetermined Overhead and Labor Cost Classifications Assume information pertaining to Performance Sports Group Ltd. for April 2017 follows. P5-34 LOo Pe Gre Purchases Manufacturing supplies Office supplies ....40,000 800 500 Salaries (including fringe benefits) 6,000 Depreciation ..15,000 8,000 4,000 Utilities 5,250 890 Office Inventories Raw materials.... Manufacturing supplies. April 1 April 30 ....$8,000 9,000 ...1,900 1,600 4,000 4,500 9,000 10,200 Finished goods.. Additional information follows: Manufacturing overhead is applied to products at 85 percent of direct labor dollars. Employee base wages are $12 per hour. . Employee fringe benefits amount to 40 percent of the base wage rate. They are classified as manufacturing overhead During April, production employees worked 5,600 hours, including 4,800 regular hours and 200 overtime hours spent working on products. There were 600 indirect labor hours. Employees are paid a 50 percent overtime premium. Any overtime premium is treated as manufacturing overhead. . Required a. Prepare a statement of cost of goods manufactured and an income statement for April. termine underapplied or overapplied overhead for April. c. Recompute direct labor and actual manufacturing overhead assuming employee fringe benefits fo direct labor hours are classified as direct labor