Iransactions during Year 2 1. Purchased $1,600 of raw materials with cash. 2. Transferred $1.000 of raw materials to the production department. 3. Incurred and paid cash for 80 hours of direct labor at $15 per hout. 4. Applied overhead costs to Work in Process Inventory. The predetermined overthead rate is $15 per direct labor hour. 5. Incurred actual overhead costs of $1,300 eash. 6. Completed work on 300 units for $7.20 per unit. 7. Paid $400 in selling and administrative expenses in cash. 8. Sold 200 units for $3,000 eash revenues. (Assume LIFO cost flow.) Meadowbrook charges overapplied or underapplied overhead directly to Cost of Goods Sold. Required