The following Information is available for a custom manufacturer. Inventories Raw materials, beginning Work in process, beginning Finished goods, beginning Cost of goods manufactured Cost of goods sold (not considering over- or underapplied overhead) $ 38,000 12,400 8,750 95,290 Costs incurred for the period Raw materials purchases Direct materials used Direct labor used Factory overhead (actual) Indirect materials used 83,200 Sales 100,000 Indirect labor used Predetermined overhead rate based on direct materials Other overhead costs used 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the T-accounts for each of the three inventory accounts using the data provided in the above table. Beginning Purchases Factory payroll Raw Materials Inventory Finished Goods Inventory Work in Process Inventory 0 $ 18,460 43,250 22,800 9,300 16,400 4,300 The following Information is available for a custom manufacturer. Inventories Raw materials, beginning Work in process, beginning Finished goods, beginning Cost of goods manufactured Cost of goods sold (not considering over- or underapplied overhead) $ 38,000 12,400 8,750 95,290 Costs incurred for the period Raw materials purchases Direct materials used Direct labor used Factory overhead (actual) Indirect materials used 83,200 Sales 100,000 Indirect labor used Predetermined overhead rate based on direct materials Other overhead costs used 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute overapplied or underapplied overhead. Overapplied overhead $ 18,460 43,250 22,800 9,300 16,400 4,300