E19-4 The following data were taken from the records of Rokary Corporation for the fiscal year ended June 30, 2020. $4,600 16,000 Raw Materials Inventory 7/1/13 Raw Materials Inventory 6/30/14 Finished Goods Inventory 7/1/13 Finished Goods Inventory 6/30/14 Work in Process Inventory 7/1/13 Work in Process Inventory 6/30/14 Direct Labor 5 Factory Insurance 48,000 39,600 Factory Machinery Depreciation Factory Utilities 96,000 75,900 Office Utilities Expense 19,800 Sales Revenue 27.600 3,650 534,000 18,600 Sales Discounts 4,200 58,000 Indirect Labor 9,500 139,250 Plant Manager's Salary 24,460 Factory Property Taxes 27,000 Factory Repairs 32,000 Raw Materials Purchases Accounts Receivable Cash 1,400 96,400 Instructions: ta) Prepare a cost of goods manufactured schedule. (Assume all raw materials used were direct materials.) b) Prepare an Income statement through gross profit. (e) Prepare the current assets section of the balance sheet on June 30, 2020. Exercises Chapter 20 E20-1 Roprin Corporation applies manufacturing overhead to Jobs based on machine hours used. Overhead costs are expected to total $325,000 for the year, and machine usage is estimated at 125,000 hours. For the year, $342,000 of overhead costs are incurred and 130,000 hours are used. Instructions: (n) Compute the manufacturing overhead rate for the year. (b) What is the amount of under- er overapplied overhead on December 317