the rate determined in part (a)? $_ c. During Januarv. the operating room was used 186 hours. The actual overhead costs incurred for January were $36.400. Deter overapplied operating overhead or underapplied operating overhead for the period. Enter your answer as a positive number over or underapplied? 3. The following events took place for Chi-Lite Inc. during June 2016, the first month of operations as a producer of road bikes: Purchased $399,560 of materials. Used $342,540 of direct materials in production. Incurred $290, 100 of direct labor wages. Applied factory overhead at a rate of 73% of direct labor cost. Transferred $818,820 of work in process to finished goods. Sold goods with a cost of $796,000. Sold goods for $1,400,110. Incurred $313,290 of selling expenses. Incurred $125,090 of administrative expenses. Prepare the June income statement for Chi-Lite. Determine the inventory balances at the end of the first month of operations