The following information is available for ABC Company at the end of last year:

	Start of Year	End of Year
Finished Goods	25,000	26,000
Work in Process	160,000	153,000
Direct Materials	15,000	14,500
During the year the following information was recorded:
	$75,000	Raw Materials Bought
	$10,000	Indirect Materials
	$125,000	Total Wages
	$80,000	Direct Labour
	$20,000	Indirect Labour
		Balance was Sales and Administration
	$160,000	Other Manufacturing Overhead
	$180,000	Manufacturing Overhead Applied

Instructions

Prepare a cost of goods manufactured schedule for last year.

Calculate the over- or under-applied manufacturing overhead for the year.