The following information is available for a custom manufacturer. Inventories Costs incurred for the period Raw materials, beginning $ 38,000 Raw materials purchases $ 18,460 Work in process, beginning 12,400 Direct materials used 43,250 Finished goods, beginning 8,750 Direct labor used 22,800 Cost of goods manufactured 95,290 Factory overhead (actual) Cost of goods sold (not considering over- or underapplied overhead) 83,200 Indirect materials used 9,300 Sales 100,000 Indirect labor used 16,400

predetermined overhead rate based on direct materials used

Other overhead costs

4,300

80%

1. Complete the T-accounts for each of the three inventory accounts using the data provided in the above table. 2. Compute overapplied or underapplied overhead.