Sandra Corporation uses a job-order costing system to assign manufacturing costs to jobs. At the end of the month it closes out any overapplied or underapplied manufacturing overhead to Cost of Goods Sold. Its balance sheet on January 1 appears below: Sandra Corporation Balance Sheet January 1 Assets: Cash Raw materials Work in process Finished goods Property, plant, and equipment (net) Total assets Liabilities and Stockholders' Equity: Retained earnings Total liabilities and stockholders' equity $ 17,450 $ 7,450 11,450 16,450 35,350 218,450 $ 271,250 $ 271,250 Summaries of the transactions completed during January appear below: (1) Raw materials purchased for cash (2) Raw materials used in production (direct materials) (3) Raw materials used in production (indirect materials) (4) Direct labor paid in cash (5) Indirect labor paid in cash (6) Selling and administrative salaries paid in cash (7) Factory utility costs paid in cash (8) Depreciation on PPE--manufacturing equipment (9) Depreciation on PPE--selling and administration (10) Advertising expenses paid in cash (11) Manufacturing overhead applied to production (12) Cost of goods manufactured (13) Cash sales (14) Cost of goods sold (15) Overapplied (underapplied) overhead $ 271,250 $ 81,450 $ 64,450 $ 10,225 $ 77,450 $ 21,450 $ 39,450 $ 15,450 $ 10,450 $ 3,450 $ 15,450 $ 59,350 $ 193,450 $ 287,000 $ 204,450 ?