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Use the following to answor questiongi. Markoff Industich The following inventory information comes from the The following invento August 31,2023 : The company uses normal costing and applied overhead at the rate of 150% of direct labor cost. Actuai overhead for the period was $175,000. Compute the following: 14. Direct materials used in production $ 15. Applied overhead for August: 16. Normal cost of goods sod $ 17. Misapplied overhead indicate amount and whether over or under applied 18. Cost of goods sold as shown on the income statement prepared in accordance with GAAP i5: 19. Gross profit, as shown on the income statement prepared in accordance with GAAP $ 20. Income from operations, as shown on the income statement prepared in accordance with GAAP $ OPTIONAL COMPUTATION AREA FOR QUESTIONS 1623