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Baab Corporation is a manufacturing firm that uses job-order costing. The company's inventory balances were as follows at the beginning and end of the year, Beginning Ending Balance Balanc Raw materialy 1 23 900 N In process 127 . 900 8 9, 209 Finished Gooda The company applies overhead to jobs using a predetermined overhead rate based on machine-hours. At the beginning of the year, the company estimated that it would work 33,900 machine-hours and incur $298320 in manufacturing overhead cost. The following transactions were recorded for the year; Raw materials were purchased, $315,900. Raw materials were requisitioned for use in production, $307,900 [$280,100 direct and $27.800 indirecth The following employee costs were incurred: direct labor, $377,900; Indirect labor, $96.900; and administrative salaries, $172.900 Selling costs, $147.900. Factory utility costs, $10,900 Depreciation for the year was $181000 of which $172,000 is related to factory operations and $9000 is related to selling. general, and administrative activities. Manufacturing overhead was applied to jobs. The actual level of activity for the year was 34,180 machine-hours. Sales for the year totaled $1 320,000. Required: a. Prepare a schedule of cost of goods manufactured! b. Was the overhead underapplied or overapplied? By how much? . Prepare an income statement for the year, The company closet any und plied overhead to Cost of Goods Sold. Complete this question by entering your answers in the table below. Required A Required B Required C Prepare a schedule of cost of goods manufactured. Baat Corporation Schedule of Coat of Goods Manufactured Manufacturing overhead cost Direct labor $ 377,800 Add: Manufacturing overhead cost 1300,784 Total few materials avaliable 078,684 Add Beginning work in process inventor Total Raw materials used in production 678.684 Direct materials used in production 678.684 Total manufacturing costs added to production 678.684 etal manufacturing coats to account for 678.084 (D.800) Coat of goods manafactured 668 784 Required A Required B Required C Was the overhead underapplied or overapplied? By how much?
RequiredA Required B Required C Prepare an Income statement for the year. The con Sold, Bash Corporation Income Stat