The following inventory information is available for Esraa Manufacturing Corporation for the year ended December 31, 2020: Beginning Ending Inventories: Raw materials $20,000 $17,000 Work in process 10,000 15,000 Finished goods 13,000 11,000 In addition, the following transactions occurred in 2020: 1. Raw materials purchased on account, $82,000, all is direct material. 2. Incurred factory labor, $90,000, all is direct labor. 3. Incurred the following overhead costs during the year: Utilities $5,800, Depreciation on manufacturing machinery $9,000, Manufacturing machinery repairs $8,200, Factory insurance $10,000. 4. Assigned $90,000 of factory labor to jobs. 5. The company applies operating overhead to the jobs on the basis of machine hours used. Expected total overhead cost is $50,000 and Estimated machine usage hours is 100,000 hours for the year. During the year, 80,000 hours are used. Instructions a) Prepare journal entries for accumulation and assignment of the manufacturing costs using the job order costing system. b) Indicate whether manufacturing overhead is over-or underapplied and prepare the appropriate journal entry