The T$-$accounts below summarize a manufacturer's production activity for the year:

Required:

Compute the following:

Direct materials used

Indirect materials used

Direct labor used

Indirect labor used

Cost of goods manufactured

Cost of goods sold $($before closing over$-$or underapplied overhead$)$

Actual overhead incurred

Overhead applied

The amount of over$-$or underapplied overhead

Indicate whether overhead is over$-$ or underapplied.

Cost of goods sold $($after closing over$-$or underapplied overhead$)$

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