Ending $ 20,000 $ 35,000 $ 0 Use the following information to answer questions 1 and 2: Budget Actual Beginning Direct Labour Costs $360,000 $420,000 Work in Progress $ 14,000 Direct Labour Hours 25,000 26,500 Finished Goods $31,000 Overhead Costs $600,000 $693,000 Materials S 0 Overhcad is allocated on Direct Labour costs using Normal Costing Materials Purchased during the year were $208,000. All materials are Direct Materials. 1. What is the Cost of Goods Manufactured? A. 1,299,997 B. 1,300,000 C. 1,310,000 D. 1,318,000 E. 1,322,000 2. What is the under/over applied Manufacturing Overhead? A. 4,000 over applied B. 4,000 under applied C. 7,000 over applied D. 7,000 under applied