Jose Tuazon general manager of a highly automated coffee production 'hint in Bulacan has provided the following information for transactions that occurred during October. The production plant uses JIT costing system. a. Raw materials costing P300,000 were purchased. b. All materials costing P300,000 were requisitioned for production. C. Direct labor costs of P200,000 were incurred. d. Actual factory overhead costs amounted to P995,000. e. Conversion costs applied totaled P1,300,000. This includes the direct labor cost. f. All units are completed and immediately sold. Match each item to a choice: Assuming no adjustment has been made for overapplied or underapplied conversion cost, what is the balance of the cost of goods sold account on October 31? What is the overapplied or underapplied conversion costs for the month? Choices: P1,600,000 P305,000 over-applied P1,195,000 P195,000 under-applied P105,000 under-applied P1,300,000 P105,000 over-applied P1,495,000