The following costs are attributed to the Quilt Company:

Purchase of raw materials (all direct)	$297,100
Direct labour cost	$141,800
Manufacturing overhead costs	$176,160
Inventories:
Beginning raw materials	$10,000
Ending raw materials	$900
Beginning work in process	$20,000
Ending work in process	$16,800
Beginning finished goods	$20,000
Ending finished goods	$5,800

Quilt Company used a 120% predetermined overhead rate based on direct labour cost.

Required:

1. Calculate the cost of goods manufactured.
2. What was the cost of goods sold before adjusting for any under or over applied overhead?
3. By how much was manufacturing overhead cost under or over applied?
4. Would the summary journal entry to close any under or over applied manufacturing overhead cost be a debit or credit to COGS?