Engstrom Manufacturing (which applied overhead to product using a predetermined overhead rate and writes any over or underapplied overhead off to cost of goods sold) reports the following for the year ended 12-31-2016.

	Inventories:
	Beg. Raw Material	$ 12,000
	End Raw Material	$ 18,000
	Beg. WIP	$ 42,000
	End WIP	$ 35,000
	Beg. Finished Goods	$ 66,000
	End Finished Goods	$ 77,500
	Other:
	Direct Labor - cost	$ 67,200
	Direct Labor - hours	5,600
	Manufacturing Overhead (actual)	$ 43,650
	Raw material purchases	$ 112,000
	Sales	$ 457,000
	Selling & Admin Expense	$ 65,000
	Income Tax Expense	$ 46,300
	Predetermine MOH rate	$ 7.50 per DL hour

Compute the following:

1. Direct Material (used)
2. Cost of Goods Manufactured
3. Over or (Under) applied overhead
4. Cost of Goods Sold
5. Gross Margin
6. Net Income