Purchased $54,000 of raw materials on account. Factory labor $76,000, plus $4,000 employer payroll taxes. Manufacturing overhead exclusive of indirect material and indirect labor $59,800. Assignment of Costs: Direct materials: Job A16 $27,000, Job B17 $21,000 Indirect materials: $3,000 Direct labor: Job A16 $52,000. Job B17 $26.000 Indirect labor: $2,000 Manufacturing overhead Rate: 80% of direct labor costs. Job A16 was completed and sold on account for $150,000. Job B17 was only partially completed. Instructions (a) Journalize the February transactions in the sequence followed in the chapter. (8) (b) What was the amount of under- or overapplied manufacturing overhead