Question 1 of 1 5/10 E Your answer is partially correct. Bonita Corp.designs and manufactures mascot uniforms for high school, college and professional sports teams. Since each team's uniform is unique in color and design, Bonita uses a job order costing system. On January 1, the T-accounts for some of Bonita's primary balance sheet accounts were as follows: Raw Materials Inventory Work in Process Inventory 1/1 59,900 26,000 1/1 Accounts Receivable 47.300 Accounts Payable 1/1 11 41,900 Finished Goods 34,600 Cash 37,200 1/1 1/1 5/10 III Question 1 of 1 During the year, the following events occurred: 1. Bonita purchased raw materials costing $117.000 on account 2 Bonita used $149.300 of raw materials in production. Of these, 80% were classified as direct materials and 20% as indirect materials. (Bonita maintains a single Raw Materials inventory account.) 3. Bonita used 32.000 hours of direct labor. The company's average direct labor rate was $12 per hour (credit Wages Payable). The company's only indirect labor was $168.000 (credit Wages Payable) 5 Other manufacturing overhead costs the company incurred on account totaled $94,400. 6. Bonita applied $316,800 in manufacturing overhead. 7 The company completed production of goods costing $837.100. B The company's Cost of Goods Sold balance was 5842.200 before adjusting for over or underapplied overhead. 9. Sales revenue was $1.060.000 (all sales were made on account). 10. Bonita collected $803,200 from customers. 11 The company paid accounts payable of $201.300. 12. At year-end, all wages earned during the year had been paid (a) Calculate under or overapplied overhead for the year (Round answer to decimal places, es. 5.275) Overhead 24540 bys Overled (c) Assuming that Bonita prorates under or overapplied overhead to the appropriate accounts, calculate the adjusted Work in Process Inventory, Finished Goods Inventory, and Cost of Goods Sold balances for the year. (Round % of total to 3 decimal places, eg. 1.235, allocation and final answers to decimal places, eg. 52.) Adjusted Balance Work In Process $ $ Finished Goods S Cost of Goods Sold