The following information was obtained from the accounting records of Feddersen Company:
Direct materials inventory, beginning .................................................. $ 33,750
Direct materials inventory, ending ...................................................... 28,125
Work- in- process inventory, beginning .............................................. – 0–
Work- in- process inventory, ending ................................................... 18,750
Finished goods inventory, beginning ................................................... 16,875
Finished goods inventory, ending ....................................................... 18,750
Direct materials purchased .................................................................. 187,500
Direct labor ......................................................................................... 122,500
Indirect labor ...................................................................................... 40,000
Depreciation, factory .......................................................................... 33,750
Depreciation, factory machinery ........................................................ 17,500
Utilities, factory and machinery ......................................................... 20,000
Insurance, factory and machinery ....................................................... 12,500
Selling and administrative expenses ................................................... 70,000
Property taxes, factory ........................................................................ 25,000
Manufacturing overhead, applied ....................................................... 147,000
Required
A. Determine the over or under applied overhead for the period.
B. Prepare a cost of goods manufactured report.