Use the information below to answer the two questions that follow. A company uses a job order costing system and applies Manufacturing Overhead (MOH) based on Machine Hours (MHs). The company provided the following information for the most recent month of operations: Direct materials purchased Estimated MHs for the month Actual MHs worked in the month Actual Direct Labor cost used in production Estimated MOH Actual MOH $40,000 7,000 MHs 7,500 MHs $25,000 $56,000 $63,000 Inventory Balances at the beginning and end of the month were as follows: Raw Materials (all direct) Work in Process Finished Goods Beg. Balance End. Balance $12,700 $16,600 $43,000 $62,000 $22,000 $83,000 Q) Before closing any over- or under-applied MOH, what is the amount of unadjusted Cost of Goods Sold for the month? ANS) $ Q) The company's sales revenue of the month was $318,500. If the company closed any under- or over-applied MOH costs to Cost of Goods Sold at the end of the month, what would be the gross margin after the adjustment? ANS) $