In the past year, Uli Company had total revenue of $3,020,000, cost of goods sold of $1,208,000 (before adjustment for over- or underapplied overhead), administrative expenses of $620,000, and selling expenses of $310,000. During the year, overhead was applied using a predetermined rate of 67 percent of direct labor cost. Actual direct labor was $700,000. Actual overhead was $396,000. The ending balances in the inventory accounts (prior to adjustment for overapplied overhead) are:

Raw Materials Inventory: $35,000

Work in Process Inventory: 61,000

Finished Goods Inventory: 50,000

A) Calculate net income treating the amount of overrapplied overhead as immaterial and assigning it to Cost of Goods Sold.

Net Income = ?

B)Calculate net income treating the amount of overapplied overhead as material and apportioning it to the appropriate inventory accounts and Cost of Goods Sold.(Round proportions to 3 decimal places, e.g. 15.253 and final answer to the nearest whole dollar, e.g. 5,275.)

Net Income = ?

Can you show your work? I can not seem to figure out the "Portion Adjustments"?