PART A (25 POINTS) Label all work and show all calculations. During the current month of the year, the records of Southern Maine Company indicated the following: Beginning Balance Ending Balance Direct Materials inventory $28,000 $35,000 $26,000 S18,000 Work-in-Process Finished goods Cost of Goods Sold S12,000 S216,060 The budgeted overhead for the year was $540,000 The budgeted total direct labor hours for the year were 21,600 Southerm Maine applics overhcad based on dircct labor hours The acual dircet labor hours Ior the month were 1,852. The dircet labor rale is $30 per hour The aclual overhead lor the month was $46,000 Direct Matcrials purchases during the month were $86.000 Job 203 was the only unlinishcd job al the cnd of the month. The following inlormation is from the Job 203 job sheet Direct materials Direct labor S14,000 300 hours REQUIRED What is the Company's applied overhead rate? 1 Wha is the amounl ol applied overhcad lor the month? 2. 3. Wha is the cost o dircct malerials translerred lo work-in-proccss during the monlh? 4. What is the ending balance in the Work-in-Process Account 5. What is the cost of goods manulactured lor the month