The following data were taken from the records of Samsung Company for the year ended December 31, 2019.
	Raw Materials Inventory,1/1/19	$48,000		Factory Machinery Depreciation		$16,000
	Raw Materials Inventory, 12/31/19	39,600		Factory Utilities		27,600
	Finished Goods Inventory, 1/1/19	96,000		Selling expenses		12,000
	Finished Goods Inventory, 12/31/19	75,900		Sales Revenue		534,000
	Work in Process Inventory, 1/1/19	19,800		Administrative expenses		14,200
	Work in Process Inventory, 12/31/19	18,600		Plant Manager's Salary		58,000
	Direct Labor	139,250		Factory Property Taxes		9,600
	Indirect Labor	24,460		Factory Repairs		1,400
	Accounts Receivable	27,000		Raw Materials Purchases		96,400
	Factory Insurance	4,600		Cash		32,000
	Manufacturing overhead applied	145,000
Instructions
(a)	Prepare a cost of goods manufactured schedule.
(b)	Prepare a cost of goods sold schedule.
(c)	Prepare an income statement. The tax rate is 25%.
(d)	Calculate under or over applied overhead, showing your calculations
(e)	Prepare the entry to close MOH to COGS