Beller Valley Apparel Co. uses a job order cost system. The following data summarizes the production data for the month of May 31, 2021, which is the first month of operations. Job # 1213 1214 Direct Materials DM 13,800 16,500 9,600 27,300 12,900 12,750 Direct Labour DL 12,950 18,760 7,000 24,360 10,360 12,460 1215 1216 1217 1218 15,500 25,500 Indirect materials Indirect labour Factory overhead applied at 50% of the direct labour cost Jobs completed in May 2021 1214, 1216 and 1218 Jobs shipped to customers 1216, 1218 Required: 1. What is job order costing? (2.5 marks) 2. What are period costs? Give two examples. (2.5 marks) 3. Prepare a job order cost report like the one discussed in class showing the costs allocated to each of the jobs, a listing of the completed jobs on hand, a listing of the work in process ending, finished goods inventory ending and the cost of goods sold. (20 marks) 4. Prepare the general journal entries to support the summarized operations