2. Baxly Company provided the following information regarding its second year of operations: Raw materials inventory, January 1........ $90,000 Raw materials inventory, December 31....$60,000 Selling expenses.............................$140,000 Direct labor cost.................................$150,000 Purchases of raw materials...................$750,000 Administrative expenses.......................$270,000 Depreciation on Administrative Equipment.. $1,450 Depreciation of factory equipment............$140,000- Indirect Labor costs, as recorded on employee timecards..........$200,000 Factory rent................ .................$250,000 WIP inventory, January 1.....................$180,000 WIP inventory, December 31..................$100,000 Factory insurance.................................$55,000 Bayly CEO Salary .............................$155,5504 FG inventory, January 1........................$260,000 FG inventory, December 31..... MOH applied for the year ........ ... $640,000+ Indirect Materials requisitioned... Required: Determine the following amounts: (a) Total manufacturing overhead costs incurred in the year; (b) Total product costs added to WIP in the current period; (c) Cost of Goods Manufactured; (d) Total cost of goods sold before adjusting journal entries; (e) Total period cost; (1) End balance of Manufacturing Overhead (Over or Under-applied?) (8) Adjusting Journal entry to close out MOH directly to COGS.