in shape, Inc. a manufacturer of custom workout and training equipment for professional and college athletic teams as well as local workout facilities. On January 1, in shape have balances in its three inventory Accounts: Direct Materials, Work-in-Process, and Finished Goods (for Job 12-02, which is complete, but has not shipped). The beginning balances for the three inventories follow: Direct materials inventory $60,000 Work-in-process inventory . . . . . . . . ........ . (Job 12-03) $70,000 Finished goods inventory ................. . (Job 12-02) $77,000 In January, in shape purchases a total of $165,000 in components, equipment, and miscellaneous supplies that are placed into the materials inventory in order to process newly accepted Jobs named Job 01-01, Job 01-02 and to complete job 12-03. During the month, requisitions are sent to the store for $15,000 of material for Job 12-03, $100,000 Job 01-01, and $45,000 for a new bid won in January Job 01-02. During January, direct labor cost of $140,000 was incurred and assigned to each job as follows: Job 12-03 is $40,000, job 01-01 is 70,000, and Job 01-02 is $30,000. A total of manufacturing overhead incurred totals $68,000 and represents the actual overhead incurred during the period. In late December in shape's accounting department estimated that manufacturing overhead for the coming year would be $500,000 and that direct labor cost would be $1,000,000. In shape uses direct labor cost and manufacturing overhead cost for the coming year as base for overhead allocation. Required A. Compute cost of Job 12-03, Job 01-01, and Job 01-02? B. What was the over- or under applied manufacturing overhead for the year