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Exercise $2-11($Algo$)$ Computing inventory balances and over$-$ or underapplied overhead LO P$1,$ P$2,$ P$3,$ P$4$

The following information is available for a custom manufacturer.

Inventories

Raw materials, beginning

Work in process, beginning

Finished goods, beginning

Cost of goods manufactured

Cost of goods sold $($not considering over$-$ or underapplied overhead$)$

Sales

Predetermined overhead rate based on direct

materials used

$$39,400$

$13,800$

$10,150$

$96,690$

$84,600$

$101,400$

$808$

Costs incurred for the period

Raw materials purchases

Direct materials used

Direct labor used

Factory overhead $($actual$)$

Indirect materials used

Indirect labor used

other overhead costs

Complete the T$-$accounts for each of the three inventory accounts using the data provided in the above table.

Compute overapplied or underapplied overhead.

Answer is complete and correct.

Complete this question by entering your answers in the tabs below.

Requirtin $1$

Required $2$

Required $1$

Compute overapplied or underapplied overhead.

Overapplied overhead $|)$$$,2,640$

Required $1$