Please help me with these questions. Thank you! Baab Corporation is a manufacturing firm that uses job-order costing. The company's inventory balances were as follows at thebeginning and end of the year:BeginningBalance14,850 $ 22,05027,05e62,850 $ 77,850EndingBalanceRaw materialsWork in processFinished Goods$ 9,050The company applies overhead to jobs using a predetermined overheod rate based on machine-hours. At the beginning of theyear, the company estimated that it would work 33,050 machine-hours and incur $234,655 in manufacturing overhead cost. Thefollowing transsctions were recorded for the year:• Row materials were purchased, $315,050.• Row materials were requisitioned for use in production, $307,050 ($280,950 direct and $26,100 indirect).The following employee costs were incurred: direct labor, $377,050; indirect labor, $96,050; and administrative salaries,$172,050.• Selling costs, $147,050.Foctory utility costs, $10,050.Deprecistion for the year was $130,000 of which $120,100 is relsted to factory operstions and $9,900 is related to selling.general, and administrative activities.• Manufacturing overhead wes applied to jobs. The octual level of sctivity for the year wes 34,010 machine-hours.• Sales for the year totaled $1,255,000.Required:a. Prepare a schedule of cost of goods manufactured.b. Was the overhesd underapplied or overspplied? By how much?c. Prepare on income statement for the year. The company closes any underapplied or overapplied overhead to Cost of Goods Sold.Complete this question by entering your answers in the table below.Required ARequired BRequired CPrepare a schedule of cost of goods manufactured.Baab CorporationSchedule of Coat of Goods ManufacturedManufacturing oaverhead cost241,471Direct materials:Beginning materials inventory14,050Add: Purchases of raw materials315,050Total raw materials available329,100Deduct: Ending raw materials inventory22,050Total Raw materials used in production307,050Deduct: Indirect materials included in manufacturing overhead26, 100Direct materials used in production280.950Direct labor377,050Manufacturing overhead applied to work in processTotal manufacturing costs added to productionTotal manufacturing costs to account for241,471899,4711,140,942Add: Beginning work in process inventory27,050Cast af goods manufacturedS 1,113,892< Required ARequired B >

The cost of goods manufactured refers to the total cost of manufacturing the goods that are to be…

Baab Corporation is a manufacturing firm that uses job-order costing. The company's inventory balances were as follows at the beginning and end of the year: Ending Balance leginning Balance 14, 050 $ 22,05e 27, 050 9,05e $ 62,0s0 $ 77,es0 Raw naterials Mork in process Finished Goods • The company applies overhead to jobs using a predetermined overhead rate based on mochine-hours. At the beginning of the year, the company estimated that it would work 33,050 machine-hours and incur $234,655 in manufacturing overhead cost. The following transactions were recorded for the year: materials were purchased, $315,050. • Row materials were requisitioned for use in production, $307,050 ($280,950 direct and $26,100 indirect). • The following employee costs were incurred: direct labor, $377,050; indirect labor, $96,050; and administrative salaries, $172050. Selling costs, $147,050. • Factory utility costs, $10,050. • Depreciation for the year wos $130,000 of which $120,100 is related to factory operations and $9,900 is related to selling. general, and administrative activities. • Monufacturing overhead was applied to jobs. The actual level of activity for the year was 34,010 machine-hours. • Sales for the year totaled $1,255,000. Required: o. Prepare a schedule of cost of goods manufactured. b. Was the overhead underapplied or overapplied? By how much? C. Prepare an income statement for the year. The company closes any underapplied or overapplied overhead to Cost of Goods Sold. Complete this question by entering your answers in the table below. Required A Required B Required C Prepare a schedule of cost of goods manufactured. Baab Corporation Schedule of Coset of Goods Manufactured Manufacturing overhead cost s 241,471 Direct materials: Beginning materials inventary 14,050 315,050 Add: Purchases af raw materials Total raw materials available 329, 100 Deduct: Ending raw materials inventory 22,050 Total Raw materials used in production 307,050 Deduct: Indirect materials included in manufacturing overhead 26,100 Direct materials used in production 200,950 Direct labor 377,050 Manufacturing overhead applied to work in process Total manufacturing costs added to production Total manufacturing costs to account for Add: Beginning work in process inventory 241,471 899,471 1,140,942 27,050 S 1,113,092 Cost af goods manufactured Required A Required B >