Calculate and enter job (project) costs. Your company assembles residential houses. It uses a job-costing system with two direct-cost categories (direct materials and direct labor) and one indirect-cost pool (assembly support). Direct labor-hours is the allocation base for assembly support costs. In December 2016, your company budgets 2017 assembly-support costs to be $8,800,000 and 2017 direct labor-hours to be 220,000. Project 2017-01 Direct Materials Costs: $106,550 Direct Labor Costs: $36,250 Direct Labor Hours: 970 hours Sales Price: $250,000 Project 2017-02 Direct Materials Costs: $127,450 Direct Labor Costs: $41,130 Direct Labor Hours: 1,000 hours Sales Price: $280,000 Assume the following: 1. The company uses normal costing. 2. Direct materials and direct labor are paid for on a contract basis. 3. All expenses, including overhead, can be entered via summary journal entries dated at the end of the year. 4. All job-related costs can be entered directly into the Cost of Goods Sold account since the jobs are completed. CALCULATE THE AMOUNT FOR EACH JOURNAL ENTRY -DEBIT TO CASH THE PROJECT SALE PRICE -CREDIT TO SALES REVENUE FOR THE AMOUNT OF THE PROJECT SALES PRICE -DEBIT COST OF GOOD SOLD FOR THE AMOUNT OF THE TOTAL PROJECT COST -CREDIT TO ACCOUNTS PAYABLE FOR THE COST OF DM AND DL FOR PROJECT -CREDIT MANUFACTURING OVERHEAD APPLIED FOR THE AMOUNT CALCULATED