Exercise $15-11($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

$\backslash$table$[[$$$39,600,$Costs incurred for the period,$],[$Raw materials purchases,,$],[14,000,$Direct materials used,$$20,060$