P20-1A Highcountry Manufacturing builds storage systems for office and home use. Its job cost records yield the following information. The company uses a perpetual inventory system. Total Cost Date Job of Job Total Manufacturing Costs Added No. Started Finished Sold at November 30 in December 1 10/26 11/7 11/9 $1.700 2 11/3 11/12 11/13 1,400 3 11/3 11/30 12/1 1,900 4 11/17 12/24 12/27 300 $ 700 5 11/29 12/29 1/3 500 1,600 6 12/8 12/12 12/14 750 78 12/23 1/6 1/9 500 12/30 1/22 1/26 1,900 Required 1. Compute Highcountry's cost of

(a) work in process inventory at November 30 and December 31,

(b) finished goods inventory at November 30 and December 31. and

(c) cost of goods sold for November and December. 2. Record summary journal entries for the transfer of completed units from work in process to finished goods for November and December. 3. Record the sale of Job 4 for $1,200. 4. What is the gross profit for Job 4? What other costs must this gross profit cover?