The Maryland Company is a computer repair shop and had the following transactions and events during the year. Estimated overhead for the year was $175,000; estimated labor for the year was 6,000 hours. 1. Purchased materials on account, $126,000. 2. Traced materials to repair jobs $110,880; general shop materials used $9,500. 3. Labor traced to repair jobs $165,000, untraced labor was $22,200. 4. Overhead incurred (not including materials or labor): $139,600. 5. Overhead is applied to repair jobs based on labor hours. All workers were paid $30/hr. 6. Ending work-in-process consisted of one repair job with a cost of $1,976. There was no beginning work-in-process. 7. Repair jobs were billed to the customers for $476,000. Required: (a) Prepare the journal entries to record the transactions for the year. (b) Prepare the journal entry to write-off the over- or underapplied overhead to the cost of repair jobs. (c) What would Maryland's operating profit for the year