The following Information is for Punta Company for July a. Factory overhead costs were applied to jobs at the predetermined rate of $5250 per tabor hour Job Sincurred 6,275 tabor hours: Job T used 4,375 labor hours. b. Job S was shipped to customers during July Job T was still in process at the end of July d. The overapplied or underapplied overhead to the Cost of Goods Sold account was closed at the end of July e. Factory utilities, factory depreciation, and factory Insurance incurred are summarized as follows: Utilities Depreciation Insurance Total $ 17,250 50,000 20,000 $ 87,250 1. Direct materials and indirect materials used are as follows: Material A Material Subtotal Indirect materials Total Jobs $ 33,500 15.000 $4,500 Job T $ 76.250 38,000 $ 114,250 Total $ 109.750 53,000 $ 162. 216,000 $ 37,750 9 Direct labor incurred for the two jobs and indirect labor are as follows: $ 65,500 Job Job T Indirect labor Total 1. Direct materials and indirect materials used are as follows: Material Material B Subtotal Indirect materials Total $ 33,500 15,000 $ 48,500 Job T 576,250 38,000 $ 114,250 Total $ 109,75 53,000 216,000 $ 37,750 g. Direct labor incurred for the two jobs and Indirect labor are as follows: Jobs Job T Indirect labor Total $ 65,500 55.000 153,000 $273,500 Required: 1. Calculate the total manufacturing cost for Job Sand Job T for July (Round your intermediate calculations and final answers to 2 decimal places.) 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. 1 Total manufacturing costs Jobs Total manufacturing costs Job T 2 Cost of goods sold