Materials Inventory Elsa Lynde Company has the following job-order data below. Work-In-Process Inventory Finished Goods Inventory 1/1/22 12/31/22 $ 18,000 $ 12,000 4,600 8,200 22,400 31,500 Materials Purchased in 2022 55,300 Other costs incurred: Assemblyline Labor 42,700 Indirect Labor 22,600 Factory Utilities 12,000 Depreciation on Factory 13,600 Indiect Materials 19,000 10,000 Factory Insurance Instructions: Using the t-accounts on the separate sheet, using a job order cost system, post the activity during 2022 for the company, properly labeled and showing balances for each account at the end of the year. Manufactured overhead is allocated at 120 percent of direct labor cost. Be sure and indicate how much cost of goods manufactured is for 2022 as well as cost of goods sold. Also, be sure to indicate how much manufactured overhead is over or under-applied.