Problem for Self-Study You are asked to bring the following incomplete accounts of Endeavor Printing, Inc., up-to-date through January 31, 2012. Consider the data that appear in the T-accounts as well as the following information in items (al through li) Endeavor's normal costing system has two direct-cost categories (direct material costs nd direct imanufacturing labor costs) and one indireet-cost pool (manufacturing over head costs, which are allocated using direct manufacturing labor costs) Materials Control Wages Payable Control 12-31-20113. 15,000 1:31-2012al. 3,00) Work-in-Process Control Manufactaring Overhead Control 1-31-2012 81L 5,00 Finished Goods Cantrol Costs of Goods Sold 2-31-2011 Bal. 20,000 Additional information follow a. Manufacturing overhead is allocated using a budgeted rate that is set every December. Management forecasts next year's manufacturing overhead costs and next year's direct manufacturing labor costs. The budget for 2012 is $600,000 for manufacturing overhead costs and $400,000 for direct manufacturing labor costs. b. The only ob unfinished on January 31, 2012, is No. 419, on which direct manufac turing labor costs are S2,000 (125 dircct manufacturing laborhours) and direet mate- rial costs are $8,00D c. Total direct matcrials issued to production during january 2012 are $90,000 d. Cost of goods completed during January is $180,020 e. Matcrials inventory as of January 31, 2012, is $20,000 f Finished goods inventory as of January 31, 2012, is $15,000 g. All plant workers carn the same wage rate. Direcr manufacturing labor-hours t for January total 2,500 hours, Other labor costs total $10,00D h. The gross plant payroll paid in January equals $52,000. Ignore withholdings . All "actual manufacturing overhead incurred during Jaruary has already been posted All materials are direct matcrials Required Calculate the following i. Materials purchased during Janua 2. Cost of Goods Sold curing January or costs incurred during January Biretrmanuaeturins lalb 4 Manufacturing Overhead Allecated during January 5. Balance, Wages Payable Contrel, December 31, 2011 6. Balance, Work-in-Process Control, January 31, 2012 7: Balance, work-in-Process Control,December 31s201 8. Manufacturing Overhead Underallocated or Orerallecated for lanuary 2012