During February, Preet Manufacturing works on two jobs: A16 and B17. Summary data for these jobs are as follows: Manufacturing Costs Incurred Raw material purchased on account: $54,000 Factory labour $80,000 Manufacturing overhead exclusive of indirect materials and indirect labour: $59,800 Assignment of Costs: Direct materials: Job No A16, $27,000, Job No B17, $21,000 Indirect materials: $3,000 Direct labour : Job No A16, $52,000, Job No B17, $26,000 Indirect labour $2,000 Manufacturing labour $2,000 Manufacturing overhead rate 80% of direct labour costs Job A16 was completed and sold on account for $150,000. Job B17 was partially completed. Instructions: a) Journalize the February transactions, b) What is the amount of under or overapplied manufacturing overhead? Instructions: eted. a) Journalize the February transactions. b) What is the timount of under or overapplied manufacturing overhead? c) Assuming the under or overapplied overhead for the year for the year is not allocated to the inventory accounts prepare adjusting entry to assign the amount to Cost of goods Sold