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Q2) Classifying Costs; Calculating Total Costs using job-order costing method ; Identifying Impact of Misclassifica Stanford Enterprises uses job-order costing Overhead is applied on the basis of direct labor hour The following information related to the year just ended Date Estimated total MOH Estimated total DL hours Actual T DL hours Sales Revenue 250,000 25,000 27,000 1,330,000 Actual costs for the year: Purchase of raw material 325,000 (all been used in production process) DL wages per hour MOH period costs 19 410,000 10.00% of sales Inventories: RM( all direct) WIP FG Beg End 15,000 $ 25,500 $ 34,600 10,000 20,000 26,450 Using the data to answer the following 1 By how much is MOH over/undera pplied? Record the appropriate jornal entries to dispose MOH over/ underapplied and adjust COGS? 2 Prepare a schedule of cost of goods manufactured 3 Prepare an income statement