The following costs are attributed to the Quilt Company: Purchase of raw materials (all direct) $291,100 Direct labour cost $141,800 Manufacturing overhead costs $198,100 Inventories: Beginning raw materials $10,000 Ending raw materials $900 Beginning work in process $20,000 Ending work in process $15,900 Beginning finished goods $20,000 Ending finished goods $6,800 Quilt Company used a 120% predetermined overhead rate based on direct labour cost. Required: 7. Calculate the cost of goods manufactured. 8. What was the cost of goods sold before adjusting for any under or over applied overhead? 9. By how much was manufacturing overhead cost under or over applied? 10. Would the summary journal entry to close any under or over applied manufacturing overhead cost be a debit or credit to COGS?