Part C: Work out Problems. Answer all questions. [ 20 Marks] [ 45 minutes and 10 minutes for uploading). 1. Winston Ltd is a manufacturing firm that uses job-order costing. The following cost data is available for the firm: [10 Marks] Inventories Beginning Ending Raw materials $35,000 $25,000 Work in process $19,000 $21,000 Finished goods $46,000 $38,000 Additional Information Raw materials purchase 70,000 Direct Labor cost 81,000 Actual manufacturing overhead costs 42,000 Manufacturing overhead costs applied to work in process 44,000 Required: (a) Compute the amount of underapplied or overapplied overhead cost for the year. (2 marks) (b) Prepare a schedule of Cost of Goods Manufactured for the year (4 marks). (c) Prepare a schedule of Cost of Goods Sold for the year (4 marks)