Question 2 (4 points) As of December 31, 2012, Grey Manufacturing had $2,500 of raw materials inventory. At the beginning of 2012, there was $2,000 of materials on hand. During the year, the company purchased $305,000 of materials; however, it paid for only $292,500. How much inventory was requisitioned for use on jobs during 2012? Oa) $293,000 b) $305,500 Oc) $292,000 O d) $304,500 During 2012, Pavers Manufacturing expected Job No. 59 to cost $300,000 of overhead, $500,000 of materials, and $200,000 in labor. Pavers applied overhead based on direct labor cost. Actual production required an overhead cost of $280,000, $550,000 in materials used, and $220,000 in labor. All of the goods were completed. How much is the amount of over- or underapplied overhead? a) $20,000 overapplied b) $50,000 underapplied c) $50,000 overapplied O d) $20,000 underapplied