Exercise 1911 (Algo) Computing inventory balances and over- or underapplied overhead LO P1, P2, P3, P4 The following information is available for a custom manufacturer. 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. Complete the T-accounts for each of the three inventory accounts using the data provided in the above table. Complete the T-accounts for each of the three inventory accounts using the data provided in the above table. \begin{tabular}{|l|r|r|l|} \hline \multicolumn{3}{|c|}{ Raw Materials Inventory } \\ \hline Beginning & 40,000 & & \\ \hline Purchases & 20,460 & 47,250 & Direct materials \\ \hline & & 11,300 & Indirect materials \\ \hline & & & \\ \hline & 1,910 & & \\ \hline Ending & & & \\ \hline & & & \\ \hline Beginning & 10,750 & & \\ \hline Cost of goods manufactured & 97,290 & 85,200 & Cost of goods sold \\ \hline & & & \\ \hline & & & \\ \hline Ending & 22,840 & & \\ \hline \end{tabular} \begin{tabular}{|l|r|r|r|} \hline \multicolumn{3}{|c|}{ Work in Process Inventory } \\ \hline Beginning & 14,400 & \\ \hline Direct labor & 24,800 & \\ \hline Overhead applied & 42,525 & & \\ \hline & & & \\ \hline Ending & & 15,290 & Cost of goods manufactured \\ \hline & & \\ \hline \end{tabular} Required 2> Complete this question by entering your answers in the tabs below. Compute overapplied or underapplied overhead