AJ Smith Compay has the following beginning inventory balances at 1/1/2019 Beginning Raw materials $ Beginning Work in process $ Finished Goods $ 16,000 25,000 all in Job 112 (no beginning inventory in finished goods) AJ Smith company had the following transactions in January 1. Purchased Raw Materials on account for 200,000 2. Salaries paid to factory workers was $60,000. All paid in cash. 3. Factory rent of 70,000 and utility bills for 45,000 for the month were paid. and Depreciation on factory equipment was $90,000. 4. Material and labor was charged to jobs in WIP in January as follows: Material Labor Machine Hours Job 111 $ 40,000 $ 15,000 17,000 Job 112 $ 70,000 $ 20,000 21,000 Job 113 $ 50,000 $ 5,000 22,000 General use $ 10,000 $ 20,000 Total $ 170,000 $ 60,000 60,000 Make a journal for the material and the labor costs to jobs (2 Journals) 5. Manufacturing overhead is applied at a rate of $4 per machine hour. There were 60,000 machine hours in the month. Make the entry to apply overhead. 6. Jobs 111 and 112 were completed and transferred to finished Goods 7. Job 111 was sold for $300,000. Make the journals for this. (include Cost) 8. What is the over or under applied overhead amount over or under (choose one) 9. What is the total ending inventory incl RM, WIP and FG at 1/31/2019