Required: Superior Corporation applies manufacturing overhead to production at 75% of direct labor cost. During the year ended 20xx, manufacturing overhead of $149,775 was applied to production; actual manufacturing overhead was $156,400. Ending Work in Process Inventory was $22,195, and ending Finished Goods Inventory was $31,570. Work in Process Inventory increased by 15% during the year and Finished Goods Inventory increased by 10% during the year. Unadjusted Cost of Goods Sold was $574,600. Complete the following schedule: (Hint. Begin with unadjusted cost of goods sold and work forward and then backward.) Item Direct Materials Used in Production Direct Labor Manufacturing Overhead Applied Total current manufacturing costs + Beginning work in process inventory - Ending work in process inventory Cost of Goods Manufactured + Beginning work in process inventory - Ending work in process inventory Unadjusted cost of goods sold Under(over)applied overhead adjustment Adjusted cost of goods sold Amount 0