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 Costs incurred for the period Raw materials, beginning $ 39,500 Raw materials purchases $ 19,960 Work in process, beginning 13,900 Direct materials used 46,250 Finished goods, beginning 10,250 Direct labor used 24,300 Cost of goods manufactured 96,790 Factory overhead (actual) Cost of goods sold (not considering over- o