Creative Ventures uses a job order costing system. On December 1, the company had the following account balances: Raw Material Inventory (include direct and indirect material) Work-in-Process Inventory Finished Goods Inventory $166,200 756,300 432,000 On December 1, Job #74 was the only job in Finished Goods (FG) Inventory. On the same date, the three jobs in Work-in-Process (WIP) Inventory had the following balances: Job #75 Job #76 Job #77 $293,200 116,800 346,300 The following transactions occurred during December:| 1. Issued $950,000 of raw material as follows: Job #75 Job #76 Job #77 Job #78 Indirect material $144,800 126,300 496,100 156,200 26,600 2. Prepared and paid $378,500 factory payroll for the month. Analysis of this payroll showed the following information. Job #75 Job #76 Job #77 Job #78 4,830 direct labor hours (DLHs) $42,300 13,160 DLHS $133,600 10,150 DLHS $101,500 5,140 DLHS $55,400 $45,700 Indirect labor wages 3. The firm applied manufacturing overhead to jobs at a rate of $3.50 per direct labor hour (DLH). 4. Jobs #75 and #76 were completed during the month. 5. Jobs #74 and #75 were shipped and accepted by the customers. 6. Incurred other manufacturing overhead for December: Factory utilities cost, $9,800. Depreciation of manufacturing property, plant, and equipment, $24,500. Property taxes for the factory building, $6,500. Insurance costs for manufacturing assets, $2,400 per month. 7. Close under- or over-applied manufacturing overhead to Cost of Goods Sold