Sheridan Corp. designs and manutactures mascot uniforms for high school, college, and professional sports teams. Since each team's uniform is unique in color and design, Sheridan uses a job order costing system. On January 1 , the T-accounts for some of Sheridan's primary balance sheet accounts were as follows: During the year, the following events occurred: 1. Sheridan purchased raw materials costing $113,000 on account. 2. Sheridan used $149,300 of raw materials in production. Of these, 80% were classified as direct materials and 20% as indirect materials. (Sheridan maintains a single Raw Materials inventory account) 3. Sheridan used 31,300 hours of direct labor. The company's average direct labor rate was $12 per hour (credit Wages Payable). 4. The companys indirect labor cost was $168,000 (credit Wages Payable). 5. Other manufacturing overhead costs the company incurred on account totaled $98,400. 6. Sheridan applied $316,800 in manufacturing overhead. 7. The company completed production of goods costing $817,100. 8. The company's Cost of Goods Sold balance was $822,600 before adjusting for over-or underapplied overhead. 9. Sales revenue was $1,040,000 (all sales were made on account). 10. Sheridan 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, Overhead by 5 (b) Assuming that Sheridan closes under-or overapplied overhead to Cost of Goods Sold, calculate the cost of goods sold for the year, Adjusted cost of goods sold (c) Assuming that Sheridan prorates undef-or overappled overhead to the appropriate accounts, calculate the adjusted Work in Process inventory, Finished Goods inventery and Cest of Goods Sold balances for the year ifcund of total to 3 decimal pluces. es. 1.235, allocotion and finol answers to 0 decimal placec, es. 52.)