The following information relates to Caoimhin Corporation. Assume Caoimhin Corporation uses normal-costing system with one cost-pool. The allocation base is machine hours. The company budgeted for a total of $2,340,000 of factory overhead during the year and 65,000 machine hours. 10/2: Direct Materials were purchased on account for $175,000. 10/13: Paid on account $58,500 related to the product's quality control. 10/15: Paid rent for the factory in cash of $34,900. 10/17: Various other factory overhead was paid with credit for $46,000 (use general account). 10/31: Depreciation for the factory's equipment use din the production of the units was recorded for $12,000. 10/31: Payroll was recorded (but not yet paid). Total of $97,000 was traceable to the jobs. Total indirect labor incurred was $64,800. A) prepare the journal entries given the costing information for caoimhin corporation listed above b) At the end of the month, the company updates the balances in the inventory accounts based on the following information. Journalize this information. Direct materials used =$132,000 Indirect materials used =$61,000 Actual machine hours incurred =9,000 hours Cost of goods manufactured =$498,000 Total goods sold =$447,600 (c) Determine the under- or over-allocation. (d) Use the write-off to cost of goods sold method to adjust for the under- or over-allocation