Grade A prints custom training material for corporations. The business was started January 1, 2020. The company uses a normal-costing system. It has two direct-cost pools, materials and labor, and one indirect-cost pool, overhead. Overhead is charged to printing jobs on the basis of direct labor cost. The following information is available for 2020. (Click the icon to view the following data.) There were two jobs in process on December 31, 2020: Job 11 and Job 12. Costs added to each job as of December 31 are as follows: (Click the icon to view the costs.) Grade A has no finished-goods inventories because all printing jobs are transferred to cost of goods sold when completed. Read the requirements. Job 11 Job 12 Total Cost Direct materials $ 4,360 $ 5,720 $ 10,080 Direct labor 5,300 6,000 11,300 6,360 7,200 Overhead 13,560 $ 16,020 18,920 34,940 Ending work in process Before calculating the cost of goods sold, let's determine the total manufacturing costs incurred during the period. Direct materials $ 138,000 Direct labor 257,000 308,400 Overhead allocated $ 703,400 Total manufacturing costs Now select the formula and enter the amounts to calculate cost of goods sold before any adjustments for under- or overallocated overhea Beginning WIP $ 0 + Total manufacturing costs $ 703,400 Ending WIP 34,940 = Cost of goods sold 668,460 Data table Data table Budgeted direct labor costs Budgeted overhead costs $ 270,000 Direct Materials Direct Labor $ 324,000 Job 11 $ Costs of actual material used $ 138,000 Job 12 $ 4,360 5,720 $ 5,300 $ 6,000 Actual direct labor costs Actual overhead costs $ 257,000 $ 310,800 Requirement 3. Calculate under- or overallocated overhead. Print Done Actual overhead costs 310,800 Select the formula and enter the amounts to calculate under- or overallocated overhead. (Use a minus sign or parentheses for overallocat Allocated overhead costs = Under- (Over-) allocated overhead 308,400 = $ 2,400 Print Done Requirement 4. Calculate the ending balances in work in process and cost of goods sold if the under- or overallocated overhead amount is as follows: (a) Written off to cost of goods sold (b) Prorated using the overhead allocated in 2020 (before proration) in the ending balances of cost of goods sold and work-in-process control accounts. (a) Complete the table below to show the ending balances in work in process and cost of goods sold if the under- or overallocated overhead amount is written off to cost of goods sold. (Enter a "0" for any zero balances.) Account Work process Cost of goods sold Total Help me solve this Account Balance (Before Write-off) Write-off of Over- or Underallocated Overhead Etext pages Get more help Account Balance (After Write-off) Clear all Check answer