For Box Inc.'s first month of operations, materials and labor costs charged to the three jobs worked on in February were: Job No.101 Job No.102 Job No. 103 Direct materials 3000 4500 1800 Direct labor at $8 per hour 3200 2400 2000 Overhead is applied at the rate of $6 per direct labor-hour. Job no. 101 and 102 were completed, Job No. 101 was sold, Job No.103 remained incomplete at the end of the month. Box Inc. incurred these cost during the month: Direct material purchases 25000 Direct and Indirect factory labor costs 8500 Factory overhead excluding indirect labor 5000 Required: 1. Determine the February 28 balances in each of the three inventory accounts. 2. Compute the amount of over- or underapplied overhead. 3. Prepare the entry to dispose of the over- or underapplied overhead, treating the entire amount as a period cost