On November 31, 2020 Kremer Construction had the following information related to its second job, Wilson House, which it started on November 1st 2020. Kremer Construction built ABC Company built Meyer House in October, and the Meyer House cost them $275,000 to build. The company was able to complete the sale of the Meyer house in November. Kremer Construction allocates overhead to jobs based on Direct Labor Costs. For 2020, Kremer Construction estimated $300,000 in overhead costs and $150,000 in Direct Labor Costs. Materials Purchased on account 75,000 Other manufacturing overhead 10,000 Indirect Labor 27,500 Raw Materials Beg. Balance 125,000 Raw Materials Used (85% Direct) 150,000 Wages Payable 100,000 Rent for the corporate headquarters 20,000 Construction equipment depreciation 75,000 All production that was started was finished during the period. 1.) Complete t-accounts based on the information that is provided (12 points) 2.) Clearly identify the following items in the t-accounts (4 points): a. Cost of Goods Manufactured b. Cost of Goods Sold 3.) Clearly indicate whether overhead was under or over-allocated during the period (4 points)