Cherry Cotta makes custom ordered clay pots for residential gardens. Below is cost information regarding its latest job.

1. Materials were purchased on account. $18,996 purchased
2. A materials requisition form shows an amount of materials required for this job, 10% of which were used for general use. $12,450 requested
3. A labor time sheet shows the following.

Job 345EmployeeRoleHoursRateTotalT. WalkerCrafting23$ 12.50$ 287.50M. FosterFiring18$ 13.75$ 247.50C. WatsonMaintenance6$ 11.00$ 66.00K. WillisSupervisor10$ 23.00$ 230.00$ 831.00

1. The additional list below shows costs incurred.

Factory Utilities$ 395Advertising Expense$ 625Administrative Duties$ 348Factory Depreciation$ 487Factory Property Taxes$ 950

1. At the beginning of the year, overhead costs and workload was estimated. Direct Labor hours drives the cost of overhead.

Estimated Overhead Cost$ 90,000Estimated Direct Labor Hours1,500

1. By month's end, all previous jobs were completed, but only 80% of the pots started this month were completed. $22,000Total Sales
2. 90% of the previous batch of pots were sold, while 70% of the pots completed this month were sold.

Required:

1. Complete the T-Accounts below.
2. Determine the Cost of Goods Manufactured.
3. Create a journal entry to dispose of the Over/Underapplied Overhead.
4. Determine the Cost of Goods Sold after disposing of the Over/Underapplied Overhead.
5. Determine the Gross Profit for the month.

Raw MaterialsInventoryManufacturingOverheadDebitCreditDebitCredit4685 Given11205 B.1245 B.90,000 E.18996 A.1245 B.296 C.Total 11,2311832 D.Total 86,627Finished GoodsInventoryWork In ProcessInventoryDebitCreditDebitCredit1260 Given5,0655,628 Given5,62817,36812,15811,20511,740Total 1,405535 C.90,000 E.Total 90,000Cost of Goods SoldSaleRevenueDebitCreditDebitCredit1273122,000Total 12731Total 22,00PeriodCostSalaries/Wages PayableDebitCreditDebitCredit973831Total 973Total 831

2. Cost of Goods Manufactured $99,358. = Raw materials+ Est. Dir Labor hours+Manufacturing Overhead.

3. Account Manufacturing overhead Debit 12,731 and Cost of Goods sold Credit 12,731

4. Cost of Goods Sold ____.

5. Gross Profit___.

I am unsure on how to answer this question