Accounting problem - Based on answers from sections A and B please answer the "What-If?" section. Thanks

Problem 2-3 Job-Order Costing: Inventory Accounts and Cost of Goods Sol Smith Die Company manufactures cutting dies for the shoe industry. Each set of dies is custom designed to a customer's templates. During the first week of May, six orders were received from customers. They were assigned ob numbers 1005-1010. The following transactions occurred during the first week of May. -Smith Die purchased steel on account from Eastern City Steel $ 5,500 The company received and paid for supplies (indirect materials) from Mallard Supply Material requisitions indicated that materials were issued to the factory floor and labor time $2,400 Direct Job Number Materials Indirect Materials Direct Labor Indirect Labor 1005 1006 1007 1008 1009 1010 $650 850 1,550 650 450 $1,600 2,000 3,300 1,400 900 700 $9,900 Totals $4,500 $1,000 $6,500 Overhead was applied to all jobs in process based on direct labor cost Jobs 1005, 1006, 1007, and 1008 were completed and transferred to finished goods. Jobs 1005, 1006, 1007 and 1008 were shipped to customers and billed at of total job costs 180% 150% Required a. Calculate the total cost of each job 1005 1006 1007 1008 1009 1010 Direct material $ Direct labor Mfg. overhead 650 $ 1,600 2,880 5,130 6,450 10,790 $ 850 $ 1,550 $ 2,000 3,600 650 $ 1,400 2,520 450 $ 350 700 1,260 3,300 5,940 900 1,620 4,570 $ 2,970$2,310 b. Prepare journal entries to record the above information DR CR 5,500 Raw Material Inventory To record the purchase of steel Supplies To record the purchase of supplies Work In Process Accounts Payable 5,500 2,400 Accounts Payable 2,400 5,500 4,500 Raw Material Inventory anufacture Overhead 1,000 To record materials used in production 16,400 9,900 Work In Process Direct Labor To record labor Work In Process Indirect Labor 6,500 17,820 Manufacture Overhead 17,820 To record overhead applied to production Finished Goods Inventory To record the cost of jobs completed Accounts Receivable 26,940 Work In Process Inventory 26,940 35,022 26,940 Cost of Goods Sold Sales Revenue Finished Goods Inventory 35,022 26,940 To record the sale of finished goods Answer _l his - Part What-if? Consider the following after you have completed the requirements of P2-3. The production manager has asked what inventory amounts exist at the end of the first week of May. Calculate the amounts Total