Selected information from the Iowa Instruments accounting records for April follows:

Materials Inventory

Debit Credit

BB $(4/1)28,000$

$212,000177,000$

Work$-$in$-$Process Inventory

Debit Credit

Labor $99,000$

EB $(4/30)94,000$

Finished Goods Inventory

Debit Credit

BB $(4/1)90,000$

$293,000275,000$

Cost of Goods Sold

Debit Credit

$6,500$

Manufacturing Overhead Control

Debit Credit

$80,500$

$80,500$

Applied Manufacturing Overhead

Debit Credit

$99,000$

$92,500$

$6,500$

Additional information for April follows:

The labor wage rate was $$30$ per hour.

During the month, sales revenue was $$321,500,$ and selling and administrative costs were $$88,000.$

This company has no indirect materials or supplies.

The company applies manufacturing overhead on the basis of direct labor$-$hours.

Customer returns are discarded and not resold.

Required:

What was the cost of direct materials purchased in April?

What was the over$-$ or underapplied manufacturing overhead for April?

What was the manufacturing overhead application rate in April?

What was the cost of products completed during April?

What was the balance of the Work$-$in$-$Process Inventory account at the beginning of April?

What was the operating profit $($or loss$)$ for April? Any over$-$ or underapplied overhead is written off to Cost of Goods Sold.