Calculate the ending balances in all inventory accounts as of December 31 . Determine the company's total cost of goods completed and COGS in December. Total cost of goods completed and COGS eTextbook and Media eTextbook Attempts: 0 of 2 used (d1) How inuch gross margin did the compary earn in Decenber? (Round percentase anwwe to 2 decimal places, e.8. 52.75x ) It Lha had a goal of earning a 35% gross margin did she reach her goal? eTextbook and Media Prepare the journal entry to write off any under-or overapplied MOH directly to COGS. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Lisa's Holiday Styles has been busy in the month of November! It seems Lisa's marketing efforts have paid off, as she has answered many calls to help decorate homes for the upcoming holidays. The company carries an inventory of decorative items in its store and then installs them in creative and fun ways, The MOH costs are fairly low, since the company has just a small space to hold the irventory. The applied MOH rate is $10 per direct labor hour: As of November 30 , the company carries the following balances in its inventory accounts. During December, the following events occurred. 1. Purchased direct materials costing $15,100 on account. 2. Used $19,700 of direct moterials for jobs. 3. Paid direct labor wages for 131 hours of labor ($25/hr). 4. Applied MOH cost to jobs. 5. Actually fncurred 52,500 in M OH costs. 6. Completed all jobs by the end of the month 7. Billed clients $44,400 for jobs completed. 8. Closed under-or overapolied MOH using the direct write-olf method Calculate the ending balances in all inventory accounts as of December 31 . Determine the company's total cost of goods completed and COGS in December. Total cost of goods completed and COGS eTextbook and Media eTextbook Attempts: 0 of 2 used (d1) How inuch gross margin did the compary earn in Decenber? (Round percentase anwwe to 2 decimal places, e.8. 52.75x ) It Lha had a goal of earning a 35% gross margin did she reach her goal? eTextbook and Media Prepare the journal entry to write off any under-or overapplied MOH directly to COGS. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Lisa's Holiday Styles has been busy in the month of November! It seems Lisa's marketing efforts have paid off, as she has answered many calls to help decorate homes for the upcoming holidays. The company carries an inventory of decorative items in its store and then installs them in creative and fun ways, The MOH costs are fairly low, since the company has just a small space to hold the irventory. The applied MOH rate is $10 per direct labor hour: As of November 30 , the company carries the following balances in its inventory accounts. During December, the following events occurred. 1. Purchased direct materials costing $15,100 on account. 2. Used $19,700 of direct moterials for jobs. 3. Paid direct labor wages for 131 hours of labor ($25/hr). 4. Applied MOH cost to jobs. 5. Actually fncurred 52,500 in M OH costs. 6. Completed all jobs by the end of the month 7. Billed clients $44,400 for jobs completed. 8. Closed under-or overapolied MOH using the direct write-olf method