Question 16 1 pts Using the Information below, calculate net Income for the period: Beginning Raw Materials Inventory $ 25,000 Ending Raw Materials Inventory 30,000 Beginning Work in Process Inventory 55,000 Ending Work in Process Inventory 64,000 Beginning Finished Goods Inventory 80,000 Ending Finished Goods Inventory 67,000 Cost of Goods Sold for the period 540,000 Sales revenues for the period 1,254,000 Operating expenses for the period 232,000 $714,000 $482,000. $1,022,000 $ 187,000. $727,000 Question 17 1 pts A company has an overhead application rate of 160% and allocates overhead based on direct labor cost. During the current period, direct labor cost is $50,000 and direct materials used cost $80,000. Determine the amount of overhead Lowden Company should record in the current period. $31.250. $50,000 $80,000 $128,000 $208,000