Your answer is partially correct. During the year, the following events occurred:

Concord purchased raw materials costing $$114,000$ on account.

Concord used $$149,300$ of raw materials in production. Of these, $80\%$ were classified as direct materials and $20\%$ as indirect

materials. $($Concord maintains a single Raw Materials Inventory account.$)$

Concord used $31,500$ hours of direct labor. The company's average direct labor rate was $$12$ per hour $($credit Wages Payable$).$

The company's indirect labor cost was $$168,000($credit Wages Payable$).$

Other manufacturing overhead costs the company incurred on account totaled $$97,400.$

Concord applied $$316,800$ in manufacturing overhead.

The company completed production of goods costing $$831,900.$

The company's Cost of Goods Sold balance was $$837,400$ before adjusting for over$-$ or underapplied overhead.

Sales revenue was $$1,040,000($all sales were made on account$).$

Concord collected $$803,200$ from customers.

The company paid accounts payable of $$201,300.$

At year$-$end, all wages earned during the year had been paid.

$($a$)$ Calculate under$-$ or overapplied overhead for the year. $($a$)$ Calculate under$-$ or overapplied overhead for the year.

Overhead

by $

$($b$)$ Assuming that Concord closes under$-$ or overapplied overhead to Cost of Goods Sold, calculate the cost of goods sold for the

year.

Adjusted cost of goods sold

$

$($c$)$ Assuming that Concord prorates under$-$ or overapplied overhead to the appropriate accounts, calculate the adjusted Work in

Process Inventory, Finished Goods Inventory, and Cost of Goods Sold balances for the year. $($Round $\%$ of total to $3$ decimal places,

e$.$g$.1\mathrm{.}235,$ allocation and final answers to $0$ decimal places, e$.$g$.52.)$

Adjusted Balance

Work In Process

$

Finished Goods

$

Cost of Goods Sold

$

Concord Corp. designs and manufactures mascot uniforms for high school, college, and professional sports teams. Since each team's

uniform is unique in color and design, Concord uses a job order costing system. On January $1,$ the T$-$accounts for some of Concord's

primary balance sheet accounts were as follows: $58400$