Waterway Company produces high-quality microscopes for education and health care uses. The company uses a job order costing system. Because the microscopes' optics require significant manual labor to ensure adherence to strict manufacturing specifications, the company applies overhead on the basis of direct labor hours. At the beginning of 2021, the company estimated its manufacturing overhead would be $ 1,960,000 and that employees would work a total of 98,000 direct labor hours. During March, the company worked on the following five jobs. Beginning Balance Direct Materials added during Direct Labor added during March Direct Labor Hours added during March Job March 134 $118.700 $8.400 140 $3.000 2.400 158 121.400 12.200 240 212 21,600 86.200 36.000 3,450 2.690 287 34.550 71,700 31.800 301 18.950 21.900 1,340 Total $ 296,250 $ 182 250 $ 110,300 7,860 Jobs 134 and 158 were started in January, Jobs 212 and 287 were started in February, and Job 301 was started in March. During March, workers completed Jobs 134, 158, and 212. Jobs 134 and 212 were delivered to customers during March (a) Your answer is correct. Waterway Company incurred $ 162,000 manufacturing overhead in the month of March. Given that expenditure for overhead, was manufacturing overhead under-or overapplied in March? By how much? Overhead Underapplied V by $ 4800 e Textbook and Media Attempts: 2 of 3 used (b) Your answer is correct. Assume that Waterway Company closes under-or overapplied overhead to the Cost of Goods Sold account Calculate the cost of Goods Sold amount after that adjustment. Adjusted Cost of Goods Sold $ 350500 e Textbook and Media Attempts: 1 of 3 used (c) Assume that Waterway Company prorates under-or overapplied overhead to the appropriate accounts. Calculate the allocated amounts and adjust the account balances as needed. (Round percentage of total and final answers to 2 decimal places, eg. 5,235.75.) Adjusted Balance Allocation $ Work In Process $ $ Finished Goods Cost of Goods Sold $ $ $ e Textbook and Media Save for Later Attempts: 0 of 3 used Submit