The following information relates to the year just ended. Actual costs for the year: \begin{tabular}{|l|lr|} \hline Purchase of raw (direct) materials & $ & 375,000 \\ \hline Direct labor cost & $ & 536,300 \\ \hline Manufacturing overhead & $ & 302,750 \\ \hline \end{tabular} Use the data to answer the following. Replace every ? with a formula. 1 Calculate and dispose of overapplied or underapplied manufacturing overhead. Note: Use cell A2 to A23 from the given information to complete this question. Overhead: \begin{tabular}{|l|l|l|} \hline Actual overhead cost & & \\ \hline Predetermined overhead rate & & \\ \hline Actual direct labor hours & & \\ \hline Total overhead applied & & \\ \hline & & \\ \hline (Over) or under applied overhead & & \\ \hline \end{tabular} 2 Calculate the cost of goods manufactured and cost of goods sold. Note: Use cell A2 to A23 from the given information to complete this question. Enter all ending inventory amounts as negative numbers. Stanford Enterprises Cost of Goods Manufactured Report materials: Beginning raw materials inventory Plus: Raw materials purchased Less: Ending raw materials Raw materials used in production Direct labor Manufacturing overhead applied Total current manufacturing costs Plus: Beginning work in process inventory Less: Ending work in process inventory Cost of goods manufactured 3 Prepare an income statement for a manufacturing firm. Note: Use cell A2 to A23 from the given information to complete this question. Enter all ending inventory amounts as negative numbers. The following information relates to the year just ended. Actual costs for the year: \begin{tabular}{|l|lr|} \hline Purchase of raw (direct) materials & $ & 375,000 \\ \hline Direct labor cost & $ & 536,300 \\ \hline Manufacturing overhead & $ & 302,750 \\ \hline \end{tabular} Use the data to answer the following. Replace every ? with a formula. 1 Calculate and dispose of overapplied or underapplied manufacturing overhead. Note: Use cell A2 to A23 from the given information to complete this question. Overhead: \begin{tabular}{|l|l|l|} \hline Actual overhead cost & & \\ \hline Predetermined overhead rate & & \\ \hline Actual direct labor hours & & \\ \hline Total overhead applied & & \\ \hline & & \\ \hline (Over) or under applied overhead & & \\ \hline \end{tabular} 2 Calculate the cost of goods manufactured and cost of goods sold. Note: Use cell A2 to A23 from the given information to complete this question. Enter all ending inventory amounts as negative numbers. Stanford Enterprises Cost of Goods Manufactured Report materials: Beginning raw materials inventory Plus: Raw materials purchased Less: Ending raw materials Raw materials used in production Direct labor Manufacturing overhead applied Total current manufacturing costs Plus: Beginning work in process inventory Less: Ending work in process inventory Cost of goods manufactured 3 Prepare an income statement for a manufacturing firm. Note: Use cell A2 to A23 from the given information to complete this question. Enter all ending inventory amounts as negative numbers