The following information applies to the ODonnell Company for March production. There are only two jobs (X and Y) in production in March.

1. Purchased direct materials and indirect materials with the following summary of receiving reports:

Material A	$	23,500
Material B		15,750
Indirect materials		6,750
Total	$	46,000

1. Issued direct materials and indirect materials with this summary of requisitions:

	Job X				Job Y				Total
Material A	$	9,500			$	19,000			$	28,500
Material B		4,500				9,500				14,000
Subtotal	$	14,000			$	28,500			$	42,500
Indirect materials										42,750
Total									$	85,250

1. Factory labor incurred is summarized by these time tickets:

Job X	$	25,000
Job Y		16,500
Indirect labor		31,750
Total	$	73,250

1. Factory utilities, factory depreciation, and factory insurance incurred is summarized as follows:

Utilities	$	4,500
Depreciation		21,000
Insurance		4,000
Total	$	29,500

1. Factory overhead costs were applied to jobs at the predetermined rate of $53.50 per machine hour. Job X incurred 1,100 machine hours; Job Y used 800 machine hours.
2. Job X was completed; Job Y was still in process at the end of March.

The company closed the overapplied or underapplied overhead to the Cost of Goods Sold account at the end of March.

Required:

1. Calculate the total manufacturing cost for Job X and Job Y for March.

2. Calculate the amount of overapplied or underapplied overhead and state whether the Cost of Goods Sold account will be increased or decreased by the adjustment.