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urgent Required: Superiot Corporation applies manufacturing overhead to production at 65% of direct iabor cost. During the year ended 20xx, manufacturing overhead of $128.765 was

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Required: Superiot Corporation applies manufacturing overhead to production at 65% of direct iabor cost. During the year ended 20xx, manufacturing overhead of $128.765 was applied to production, actual manufacturing overhead was $157,600. Ending Work in Process inventory was $21,560, and ending Finished Goods Inventary was $31,020. Work in Process Inventory increased by 10% during the year and Finished Goods Inventory increased by 10% during the year. Unadjusted Cost of Goods Sold was $574,900. Complete the following schedule: (Hint. Begin with unadjusted cost of goods sold and work forward and then backward.) \begin{tabular}{|c|c|} \hline Item & Amount \\ \hline \multicolumn{2}{|l|}{ Direct Materials Used in Production } \\ \hline Direct Labor & \\ \hline Manufacturing Overhead Applied & 28,835 \\ \hline Total current manufacturing costs & 28,835 \\ \hline \multicolumn{2}{|l|}{+ Beginning work in process inventory } \\ \hline \multicolumn{2}{|l|}{ - Ending work in process inventory } \\ \hline \multicolumn{2}{|l|}{ Cost of Goods Manufactured } \\ \hline \multicolumn{2}{|l|}{ + Beginning finished goods inventory } \\ \hline \multicolumn{2}{|l|}{ - Ending finished goods inventory } \\ \hline \multicolumn{2}{|l|}{ Jnadjusted cost of goods sold } \\ \hline Inder(over)applied overhead adjustment & \\ \hline goods & \\ \hline \end{tabular}

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