Managerial Accounting BADM 2010 SI 7 Assignment 1 Chapter 5 GH Inc. reported the following actual costs data for the year: Purchase of direct material $2 50,000 Direct labour @ $20fDLH 180,000 Manufacturing overhead costs 160,000 Change in inventories: Increase in direct material $15,000 Decrease in WIP 8,000 Increase in finished goods 25,000 GH Inc. used a predetermined overhead rate based on direct labour hours. Estimated annual manufacturing overhead cost and direct labour hours were $175,000 and 10,000, respectively. Required: a. What was the [ire-determined manufacturing overhead rate? b. Calculate the cost of goods manufactured. c. What was the cost of goods sold before adjusting for any under or overapplied overhead? d. By how much was manufacturing overhead cost under or overapplied