The following data from the just completed year are taken from the accounting records of Mason Company Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs $524,000 $ 70,000 118,000 $140,000 63,000 90,000 $ 80,000 $ ning Year Inventories Raw materials Work in process Finished goods Beginning End of of YearYear $ 7,000 15,000 s 10,000 5,000 $ 20,000 35,000 Required