The following information is available for a custom manufacturer.

1. Compute the ending balances of Raw Materials Inventory, Work in Process Inventory, and Finished Goods Inventory.

2. Compute overapplied or underapplied overhead.

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Inventories Costs incurred for the period Raw materials, beginning $ 38,000 Raw materials purchases. $18,460 Work in process, beginning 12,400 Direct materials used.. 43,250 ... Finished goods, beginning. 8,750 Direct labor used 22,800 Cost of goods manufactured . 95,290 Factory overhead (actual) Cost of goods sold (not considering over- or Indirect materials used 9,300 underapplied overhead)... 83,200 Indirect labor used... 16,400 Sales..... 100,000 Other overhead costs... 4,300 Predetermined overhead rate based on direct materials used ..... 80%