n..- u-u uuu. Required: 1. Compute the total manufacturing overhead [MOI-l) applied to jobs for the year. Is the MDH underapplied or overapplied? Close the balance to cost of goods sold and prepare statement of cost of goods manufactured and income statement for the year. Problem #1 = $ = $ UI - - -nse Facto 5? 000.00 De-reciau'on Facto e ui nment 30 000.00 Total $ 290,000.00 Overapplied MGH 69H! Gold Nest Company Statement of Cost of Goods Manufacbrred For the Year Ended December 31, 2055: Raw Materials used 35 220 000.00 Direct Labor 130,000.00 Manufacbrr'ing Overhead applied 290 000.00 Total Manufacturing costs $ 690 000.00 Add: Work in Process, Jan. 1 10:00000 Total cost of goods in process 35 T00:000.00 Less: Work in Process, Dec. 31 Cost of Goods Manufactured $