ABC uses job-order costing. It applies overhead cost to jobs on the basis of direct labor-hours. For the current year the company estimates that it will work 20,000 direct labor-hours and will incur $650,000 of manufacturing overhead. The following transactions took place during the year:

a) $300,000 of raw materials were purchased on account

b) Raw materials were issued into production, $90,000 direct materials and $40,000 indirect materials

c) Labor costs incurred: $40,000 direct, $130,000 indirect, sales commissions $50,000, administrative salaries $100,000

d) Utility costs for the factory were $60,000

e) Depreciation recorded was $300,000 (70% related to factory; 30% related to administrative offices)

f) Manufacturing overhead was applied to production. Actual direct laborhours incurred were 22,000.

g) Units costing $300,000 were completed and transferred into the finished goods inventory.

h) Goods with a cost of $150,000 were sold on account for $200,000.

i) Closed the under/overapplied overhead for the year.