The following information is available for a custom manufacturer. Inventories Raw materials, beginning $38,000 Work in process, beginning 12,400 Finished goods, beginning 8,750 Cost of goods manufactured 95,290 Cost of goods sold (not considering over- or underapplied overhead) 83,200 Sales 100,000 Predetermined overhead rate based on direct materials used 80% Costs incurred for the period Raw materials purchases $18,460 Direct materials used 43,250 Direct labor used 22,800 Factory overhead (actual) Indirect materials used Indirect labor used Other overhead costs 9,300 16,400 4,300 Required: 1. Complete the T-accounts for each of the three inventory accounts using the data provided in the above table (Use cells A4 to E11 from the given information to complete this question.) + 26 27 Beginning 28 Raw materials purchases 29 30 Ending 31 32 33 Beginning 34 35 36 Overhead applied 37 Ending 38 39 Raw Materials Inventory 38,000 18,460 Work in Process Inventory 12,400 Finished Goods Inventory. 40 Beginning 41 42 Ending 43 44 2. Compute overapplied or underapplied overhead. 45 46 (Use cells A4 to E11 from the given information to complete this question.) 47 48