The CAP Press is wholly owned by the university. A job order is used fir printing. The bulk of work is done for other university departments, which pay as though the Press were an outside business enterprise. The Press also publishes and maintains a stock of books for general sale. Needed: How much is the adjustment that has to be made to COGS? Include if it is overapplied or underapplied. Place to two decimal answers

1 Direct materials and supplies purchased on account $800 Direct materials issued to the production 2 749 departments Supplies (Direct Materials) issued to various 3 298 production departments 4 Labor used directly in production 1,356 5 Indirect labor incurred by various departments 930 6 Depreciation, buildings and factory equipment 419 7 Misc. factory overhead incurred by various 558 departments (repairs, photocopying, utilities, etc.) 8 Factory overhead applied at 173% of direct labor ? cost 9 Cost of goods manufactured 4,120 10 Sales 8,000 11 Cost of goods sold 4,020 Inventories, December 31, 19_1: Materials Control 100 Work-in-process control 60 ? Finished goods control 500