The Cost Department of Columbus Company received the following monthly data, pertaining solely to manufacturing activities, from the general ledger clerk:

Additional data:
(a) Physical inventory taken January 31 shows $9,000 of materials on hand.
(b) The January 31 work in process and finished goods inventories show the following direct materials and direct labor contents:

(c) Factory overhead is applied to these two ending inventories on the basis of a predetermined overhead rate of $3.60 per direct labor hour.
Required:
(1) Determined the cost assigned to the ending work in process and finished goods inventories, including overhead.
(2) Prepare a schedule of the total actual overhead for the month.
(3) Calculate the over- or under applied factory overhead.
(4) Prepare a detailed cost of goods sold statement, assuming that over- or under applied factory overhead is closed to the cost of goods sold account.

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32,500 21,000 256,000 108,000 5,050 17,500 29,050 23,800 7,500 4,000 3,000 6,500 8,250 7,500 9,900 18,000 115,200 Work in process inventory, January1.. Materials inventory, January Materials purchased.... Materials returned to suppliers Supervision. Heat, light, and power. Depreciation-factory buildings. Property tax- factory facilities.. Insurance on factory buildingS.... Transportation in (overhead)... Repairs and maintenance factory equipment.... Depreciation factory equipment.... Miscellaneous factory overhead Finished goods inventory, January1 Applied factory overhead.... Direct Labor Work in process. Finished goods. Direct Materials $ 9,000 10,000 $16,000 (2,000 hrs.) 40,000 (5,000 hrs.)