14 15 points Exercise 15-11 (Algo) Computing inventory balances and over- or underapplied overhead LO P1, P2, P3, P4 The following information is available for a custom manufacturer. Inventories Raw materials, beginning Work in process, beginning Costs incurred for the period Raw materials purchases Direct materials used Direct labor used Factory overhead (actual) Indirect materials used $ 39,400 13,800 01:42:53 Finished goods, beginning 10,150 Cost of goods manufactured 96,690 Cost of goods sold (not considering over- or underapplied overhead) 84,600 Sales 101,400 References Predetermined overhead rate based on direct materials used Indirect labor used Other overhead costs 80% 1. Complete the T-accounts for each of the three inventory accounts using the data provided in the above table. 2. Compute overapplied or underapplied overhead. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the T-accounts for each of the three inventory accounts using the data provided in the above table. Raw Materials Inventory Finished Goods Inventory Work in Process Inventory < Required 1 Required 2 > $ 19,860 46,050 24,200 10,700 17,800 5,700