437 DO 1 Exercise 2-11 (Algo) Computing inventory balances and over- or underapplied overhead LO P1, P2, P3, P4 The following information is available for a custom manufacturer Inventories Bav saterials, beginning Mork in process, beginning Rav materials purch Direct material d Direct labor seed Factory overhead (actual) Indirect materials used Indirect labor used Costs incurred for the period 35,000 14,500 Finished goods, beginning 10,550 Cost of goods maufactured $7,090 Cost of goods sold (not considering over- underapplied overhead) 85,000 101,000 Fredetermined overhead rate based on direct Other overhead costs materials used 90% 1. Complete the T-accounts for each of the three inventory accounts using the data provided in the above table 2. Compute overappled 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. 2:24,360 46,850 24,400 11,100 10,300 6,100 Check my work Raw Materials ventury Beginning Purchases 39.800 20.200 46.850 Dired maleria 11,100 indirect materials Beginning Derect materials Direct labor Work in Process Inventory 14.200 46,850 97.090 Cost of goods manufactured 24.800 Overhead applied 37480 Ending 2,110 Ending 26.040 Finished Goods Inventory Begrring 10.560 Cost of goods manufactured 97.000 85,000 Cost of goods sold 22.640 Required 2 >