Concord Company produces high-quality microscopes for education and health care uses. The company uses a job...

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Concord 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 $1,950,000 and that employees would work a total of 97,500 direct labor hours. During March, the company worked on the following five jobs. Beginning Direct Materials added during Job Balance March Direct Labor added during March Direct Labor Hours added during March 134 $118,700 $5,000 $8,500 150 158 121,300 2,500 12,140 310 212 21,700 86,600 37,000 3,460 287 34,200 71,600 31,820 2,690 301 18,940 21,895 1,310 Total $295,900 $184,640 $111,355 7,920 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. Concord Company incurred $163,000 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 by $ eTextbook and Media 4600 Attempts: 2 of 3 used (b) Assume that Concord 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 $ Concord 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 $1,950,000 and that employees would work a total of 97,500 direct labor hours. During March, the company worked on the following five jobs. Beginning Direct Materials added during Job Balance March Direct Labor added during March Direct Labor Hours added during March 134 $118,700 $5,000 $8,500 150 158 121,300 2,500 12,140 310 212 21,700 86,600 37,000 3,460 287 34,200 71,600 31,820 2,690 301 18,940 21,895 1,310 Total $295,900 $184,640 $111,355 7,920 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. Concord Company incurred $163,000 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 by $ eTextbook and Media 4600 Attempts: 2 of 3 used (b) Assume that Concord 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 $