Please add detailed steps for each answer. Not just a given answer.

JOB ORDER COSTING spring, Inc. has the following data for 2018. The Company allocates overhead based on use of direct labor hours. Any over/under-applied overhead is closed directly to Cost of Goods Sold. Beginning Balance Ending Balance Raw Materials $20,000 Finished Goods Work in Process $75,000 $130,000 $210,000 $225,000 Actual overhead Cost of goods sold (unadjusted) Direct labor hours used (cach employee paid the same wage) Gross profit rate Operating expenses Raw materials purchased Raw materials used (545,000 direct, $5,000 indirect) Over-applied overhead $150,000 $200.000 2.000 60% $140,000 $70,000 $50,000 $20,000 Answer the following: Applied Overhead (3pts) Cost of Goods Manufactured (3pts) Adjusted Cost of Goods Sold (3pts) The total cost added to a job when one direct labor hour is used (4pts) Inventory (as shown on the end of period Balance Sheet) (3pts) Net Income (4pts)