Exercise $15-16($Algo$)$ Manufacturing cost flows LO P$1,$ P$2,$ P$3$

Telstar uses job order costing. The T$-$accounts below summarize its production activity for the year.

Raw Materials Inventory

Debit Credit

$46,50025,750$

$9,500$

Factory Wages Payable

Debit Credit

$127,50087,250$

$41,750$

Factory Overhead

Debit Credit

$9,500104,184$

$41,750$

$62,870$

Work in Process Inventory

Debit Credit

$25,750171,820$

$87,250$

$104,184$

Finished Goods Inventory

Debit Credit

$171,820154,790$

Compute the amount for each of the following.

Direct materials used

Indirect materials used

Direct labor used

Indirect labor used

Cost of goods manufactured

Cost of goods sold $($before closing over$-$ or underapplied overhead$)$

Compute the amount that overhead is overapplied or underapplied.