Kelley Corporation,began Operations on October 1 $\text { Purchases of ray material } 25,000 \text { pieces }@ \$ 1.20 / piece$

Kelley Corporation,began operations on October 1.It employs a job-order costing system.Overhead is charged at a normal rate of $2.50 per direct labor hour.The actual operations for the month of October are summarized as follows:
a. $\text { Purchases of ray material } 25,000 \text { pieces }@ \$ 1.20 / piece$
b. $\text { Material and labor costs charged to production }$
$\begin{array}{|l|l|l|l|l}\hline \text { Uob No. } & \text { Units } & \text { Material } & \begin{array}{l}\text { Direct } \\\text { labor cost }\end{array} & \begin{array}{l}\text { Direct } \\\text { labor hours }\end{array} \\\hline \hline 101 & 10,000 & \$ 4,000 & \$ 36,000 & 3,000 \\\hline 102 & 8,800 & 3,600 & 5,400 & 2,700 \\\hline 103 & 16,000 & 7,000 & 9,000 & 1,500 \\\hline 104 & 8,000 & 3,200 & 4,800 & 2,400 \\\hline 105 & 20,000 & 8,000 & 3,600 & 1,800 \\\hline & & & &\end{array}$

c. $\text { Achul overhead costs incutred }$
$\begin{array}{ll}\text { Variable } & \$ 18,500 \\\text { Fixed } & 15,000\end{array}$
d. $\text { Completedjobs: } 101,102,103 \text {, and } 104$
e. $\text { Sales-\$105.000. All units prochuced on Jobs } 101,102 \text { and } 103 \text { were sold }$
Required:Compute the following balances on October 31:
a. $\text { Material inventory }$
b. $\text { Wotk in process inventory }$
c. Finished gods inventory
d. $\text { Cost of goods sold }$
e. $\text { Under- or overapplied overhead }$