Problem (5 points per question) Use the following gathered information to answer the questions below. Beginning Ending Raw Materials WIP 300,000 227,000 Finished Goods 200,000 ????? Current Direct Labor 14,000 Indirect Labor 10,000 Actual Overhead 35,000 Applied Overhead Direct Materials 50,000 Indirect Materials 25,000 Sales Revenue 500,000 Estimated total Overhead Costs 40,000 Actual Direct Labor Hours 95,000 Estimated Activity Level of Cost 100,000 Driver (hours) Gross Profit Percentage 40% Salaries of Sales Staff 20,000 Depreciation on Office Computer 30,000 Hours What was: Raw Materials Purchases? Applied Manufacturing Overhead? Cost of Goods Manufactured? Total S,G,&A Expenses? Net Income BEFORE adjustment of over/under applied overhead? COGS AFTER adjustment of over/under applied overhead Did they over or under apply overhead