The following financial information about the manufacturing plant of Continental Company for the year-to-date and the month of July appears on the company's records: A count of the inventories on hand July 31 shows the following: Interviews with various plant administrative employees August 1 reveal some additional information: - The company currently owes materials suppliers $54,400. - The company paid suppliers $40,600 cash during July. - Plant payroll during July totaled $84,300, of which $18,100 was for indirect labor. - Manufacturing overhead incurred through July was $232,900. - Cost of goods sold through July 31 was $416,600. - Indirect materials cost during July was $4,700. - Overhead during July was underapplied by $3,900. Required